December single family home sales are down almost 11% compared to last year, according to the Houston Association of Realtors.
Inflation and rising interest rates are cooling things off in the winter months, but Houston Association of Realtors Chair Cathy Trevino says the market remains hot, just not at blistering levels of the recent past.
“2022 was the first time since 2015 that we actually had a decline in home sales,” Trevino tells KTRH News.
The December report just coming out this week, the link posted below. Trevino is optimistic about where 2023 is heading, in spite of headwinds.
“Statistics state that anything under six months of inventory is a seller’s market. We’re sitting at 2.7 months of inventory, so it’s still definitely a seller’s market,” Trevino says.
The Greater Houston market just keeps bulging outwards, The Woodlands, Katy, Kingwood, Atascosita, Crosby absorbing the new buyers.
Nationally, home sales are down 7.7%, pending home sales down 4%.
In Harris County, the median home value is close to $271,000, Fort Bend County more than $371,000, Montgomery County $342,000, Galveston County $315,000.
https://www.har.com/content/department/newsroom/
Nikki Courtney