The oil industry’s downturn coupled with traditional seasonality pushed Houston’s home sales activity down by double digits in October. Single-family homes sales in the metro dropped by 10.2 percent on a year-over-year basis, with a total of 5,873 sales occurring last month, according to a report from the Houston Association of Realtors (HAR). In comparison, 6,541 single-family homes sold during October 2014.
- Sales activity in the $150,000 to $249,000 and $250,000 to $499,999 price ranges changed the least during October.
- Pending sales at the end of October were also down, signaling a likely decline in activity during November.
- The metro's median home price of $205,000 remains affordable when compared to other major metros.