This is one outlet's own report from Houston Chronicle — the article as it was filed.
AIPROPX ReportHouston Chronicle · 1h ago
Houston has never had this many homes for sale. Buyers aren't rushing.
Houston homebuyers have more options than ever before —and apparently they're taking their sweet time choosing one.
The number of active home listings across the Houston area reached an all-time high in July, with 40,750 single-family homes on the market, according to the Houston Association of Realtors' latest housing report. That's 3.4 percent more than last July and the highest inventory HAR has ever recorded.
Single-family home sales increased 1.6 percent year over year, with 8,340 homes changing hands compared with 8,212 last July. Pending sales also increased 2.6 percent, which HAR said suggests buyers remain engaged despite having considerably more homes to sift through.
"We're seeing a more balanced market take shape across Houston," HAR Chair Theresa Hill with Compass RE Texas said in the report. "For buyers, that means more opportunities and more flexibility than they've had in quite some time."
That flexibility hasn't translated into dramatically cheaper houses , though.
The median price of a single-family home edged up 0.6 percent from last year to $340,000, while the average price increased 1.9 percent to $440,816. Homes also spent an average of 53 days on the market, up from 50 days last July.
It's another sign that Houston's housing market continues moving away from the frenzied conditions buyers and sellers grew accustomed to earlier this decade.
Chron reported in February that Houston homes were taking longer to sell even as affordability improved, with buyers facing a growing selection of properties and considerably less pressure to immediately jump on whatever became available.
July's numbers suggest that shift hasn't gone anywhere.
Over the past 12 months, 89,367 single-family homes have sold across Greater Houston, up 2.5 percent from the previous 12-month period. More notably, HAR says Houston sales have now returned to what it considers normal pre-pandemic volumes.
Not every corner of Houston's market is moving at the same pace, either. Homes priced at $1 million and above recorded the largest sales increase in July, jumping 9.4 percent from a year ago. Sales between $250,000 and $499,999—the busiest price range by far—barely budged, increasing just 0.4 percent.
So Houston's housing market isn't exactly cheap, and it isn't exactly booming. But for buyers who remember bidding wars, disappearing listings and having to make decisions almost immediately, having a record 40,750 houses to choose from isn't the worst problem to have.
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