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Housing inventory grew and prices moderated in Houston last month — creating a “summer shift” into a “balanced and sustainable market,” the Houston Association of REALTORS® said in its July Market Update.
Active listings jumped 38.2% year over year to an all-time high 40,112 properties. Meanwhile, home prices saw the largest annual decline since 2023 as the median dropped 3.1% to $339,000 and the average fell 1.9% to $434,664.
“The rising inventory levels have led to modest price adjustments by sellers,” said HAR Chair Shae Cottar. “While some homeowners are adjusting their expectations, many homes are still attracting solid offers. This is a good indicator that the Houston market continues to be in a relatively healthy and balanced spot.”
Homebuyers closed on 8,300 houses during the month, a 9.2% increase year over year (the year prior, Hurricane Beryl put a damper on late summer home sales). Given that rate of sales, Houston had a 5.5-month inventory in July, up from 4.2 months in July 2024.
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Emily Marek
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