Houston home market maintains stability, hits price record

Despite slowing sales, housing stock and prices are on the rise
  • Single-family months supply rose 17.2 percent and total active listings increased 13.8 percent year-over-year.
  • Houston home sales amassed $2.6 billion in transaction volume in June, a 1.7 percent dip from last year.
  • Although closings dropped minimally, single-family pending sales jumped 8.6 percent, from 7,181 to 7,801.
  • Both single-family leases and condo leases grew by 4.8 percent and 12.9 percent, respectively.

Despite the local economy’s dependence on the oil industry, it seems Houston’s housing market is maintaining stability. According to the Houston Association of Realtors (HAR) June report, Houston’s median price hit $230,538, and average price tapered to $300,178, barely falling short of the previous record hit last June.