HAR Report: “The Houston real estate market had an encore performance of slower home sales and solid rental activity in October and we can probably expect those trends to prevail for the rest of the year,” said HAR Chair Cathy Treviño with LPT, Realty. “Housing inventory has grown steadily in recent months and pricing has moderated, so any notable decline in mortgage rates will likely spark renewed interest in homebuying, but only the Fed can control whether that happens.”
Single-family home prices continue to moderate. The average price edged up just 0.4 percent to $403,556 while the median price declined 0.9 percent to $327,000. Those figures are significantly below the record highs of $438,350 (average) in May 2022 and $354,000 (median) in June 2022.