Houston sales market hits expected decline

  • 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.

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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.