Houston Home Sales Slow Their Roll in September

Houston home sales were down for an 18th consecutive month in September as interest rates continued to keep prospective homebuyers headed toward the rental market or putting their buying plans on hold. The slower sales volume enabled inventory to expand and prices to moderate, creating more buyer-friendly conditions.

According to the Houston Association of Realtors’ (HAR) September 2023 Market Update, single-family home sales across the market fell 10.9 percent year-over-year with 6,886 units sold compared to 7,728 in September 2022. Months supply of homes climbed to 3.5, the highest level since November 2019 when it was at a 3.6-mont supply. Compared to pre-pandemic September 2019, when volume totaled 7,050, home sales were down 2.3 percent.

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