Houston Housing Stats July, 2023

[Sharon Tzib]

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

Houston Real Estate Highlights in July, 2023:

• -Single-family home sales were down 8.5 percent year-over-year, the 16th consecutive month of slowing sales volume, however there continued to be signs of overall improvement to the local housing market;
• -The 8.5 percent decline is the smallest since the market registered a 7.6 percent drop in June 2022;
• -Compared to July 2019, before the pandemic, sales were down 15.3 percent, and compared to July 2018, five years back, they were down 5.8 percent.
• -Days on Market (DOM) for single-family homes rose from 27 to 42 days;
• -Total property sales fell 8.3 percent with 9,223 units sold;
• -Total dollar volume dropped 8.8 percent to $3.7 billion;
• -The single-family median price dropped 2.3 percent to $340,000;
• -The single-family average price edged up 0.6 percent to $428,140;
• -Single-family home months of inventory registered a 3.2-months supply, up from 2.4 months a year earlier – the biggest supply in three years;
• -Townhome/condominium sales experienced their 14h straight monthly decline, falling 9.8 percent, with the median price down 2.2 percent to $220,000 and the average price up 2.1 percent to $263,876;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 14.6 percent.