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.