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.
- 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.