Houston Housing Stats February, 2023

[Sharon Tzib]

https://www.har.com/content/newsroom/

Houston Real Estate Highlights in February, 2023:

• -Single-family home sales fell 23.0 percent year-over-year, as the market continues its recovery from economic headwinds;
• -Compared to pre-pandemic 2019, single-family home sales were up 7.2 percent;
• -All housing segments experienced negative sales;
• -Days on Market (DOM) for single-family homes rose from 42 to 63 days;
• -Total property sales fell 25.3 percent with 6,981 units sold;
• -Total dollar volume dropped 27.3 percent to $2.5 billion;
• -The single-family average price fell 2.4 percent to $385,103;
• -The single-family median price dropped 1.6 percent to $320,000;
• -Both pricing decreases were the first since the spring of 2020;
• -Single-family home months of inventory registered a 2.6-months supply, up from 1.2 months a year earlier;
• -Townhome/condominium sales experienced their ninth straight monthly decline, falling 32.4 percent, with the average price down 7.8 percent to $244,595 and the median price down 3.8 percent to $216,510;
• -Compared to pre-pandemic 2019, townhome and condominium sales were up 4.5 percent.