HOUSTON — (January 8, 2025) HAR Report— After two consecutive years of declining sales, the Houston housing market experienced modest growth in 2024. Homebuyers kept the resale and rental markets active despite fluctuating mortgage rates and higher home prices. As 2025 gets underway, steady demand and expanding inventory have set the stage for continued growth.

According to HAR’s December/Full-Year 2024 Housing Market Update, total property sales were statistically flat compared to 2023. Single-family home sales rose 1.3 percent to 85,163. Total dollar volume for full-year 2024 climbed 3.1 percent to $41.1 billion versus $39.8 billion the prior year.

For December, single-family home sales saw double digit growth of 16.3 percent year-over-year. Most of the housing segments experienced increases, with the luxury segment - consisting of homes priced $1M and above – seeing the strongest increase in activity. Sales in this segment climbed 64.6 percent when compared to last December.