July 2022 Houston Real Estate Market Update

“The frenetic pace of home sales that dominated the Houston housing market throughout most of the pandemic continues to slow.” – Houston Association of REALTORS®

Single-family homes:
• Single-family home sales fell 17.1 year-over-year, their fourth and biggest decline of 2022 as the market continues on the path toward a more normalized, pre-pandemic pace
• Days on Market (DOM) for single-family is 26
• The ‘Close to Original List Price Ratio’ for single-family homes fell below 100 percent for the first time since April 2022, meaning that most buyers did not pay above list price for homes on the market
• The single-family average price rose 9.9 percent to $426,494

• Townhome/condominium sales experienced their second consecutive monthly decline, falling 21.5 percent, with the average price up 5.0 percent to $257,834

Additional Reads:

Housing economists: Mortgage-rate volatility likely to level off even with Federal Reserve interest-rate hikes
Houston ranks No. 2 on list of most million-dollar homes in Texas in new study

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