Home sales were down across all pricing categories in Houston in May, with overall sales dropping 20% year over year in the second consecutive month of declines, according to the Houston Association of Realtors.
Two bright spots were an uptick in pending sales and in leases of single-family homes, which jumped 12%.
“We will eventually work our way through these challenges, and already see positive indicators in the form of strong rental activity, solid pending sales numbers and steady attendance at property showings across greater Houston," HAR Chairman John Nugent said in a news release.
Homes in the high end of the market were hardest hit, with homes above $750,000 seeing 56% fewer sales year over year.
