Houston sales market hits expected decline

The number of homes sold in Houston during 2015 should trail 2014
  • Declining home sales activity is nothing new for Houston, but a decline in average sales price is.
  • The volume of "luxury" homes sold continues to decline.
  • Despite declining sales activity, Houston's supply remands relatively unchanged.

Recent data indicates Houston homes sales activity will decline in December for the third straight month. According to the Houston Association of Realtors, pending single-family homes sales at the end of November totaled 5,617, a 6.3 percent drop from a year earlier and an indication that December figures will be down on a year-over-year basis.