Greater Houston July 2023 Real Estate Market Update

You are currently viewing Greater Houston July 2023 Real Estate Market Update
  • Single-family home sales were down 12.8 percent year-over-year, the 15th consecutive month of slowing sales volume, however there were signs of overall improvement to the local housing market;
  • Compared to pre-pandemic 2019, single-family home sales were up 3.9 percent and were up 2.3 percent versus the volume five years ago, in June 2018;
  • The luxury segment, consisting of homes priced from $1M and above, saw its first gains in months, climbing 5.9 percent year-over-year in June; 
  • Days on Market (DOM) for single-family homes rose from 28 to 45 days;
  • Total property sales fell 13.7 percent with 10,382 units sold;
  • Total dollar volume dropped 13.4 percent to $4.2 billion;
  • The single-family average price fell 0.5 percent to $431,092; 
  • Single-family home months of inventory registered a 3.1-months supply, up from 1.9 months a year earlier – the biggest supply in three years.