Record median home prices coupled with a decline in sales activity has aided Houston’s inventory. According to a report from Redfin, the metro experienced a 34.5 percent year-over-year inventory increase in November, the second largest rise in supply next to Denver. More than 7,300 new listings hit the market last month, bringing total supply to 22,092 homes.
- Only two other metros nationally saw more new listings hit the market in November.
- Dipping single-family sales activity suggest Houston's inventory could continue to grow.
- Dipping sales activity coupled with growing inventory signals an upcoming decline in home values.
Big plans for business in 2018?
Give yourself the tools to own the new year at Connect SF, July 17-20, 2018