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Houston’s single-family home sales remained strong in November, according to the Houston Association of Realtors (HAR).  Brokers closed on 6,559 single-family homes in November ’24, a 6.0 percent increase over November ’23. That includes 4,281 existing and 2,278 newly constructed homes sold through HAR’s Multiple Listing Service (MLS). Existing single-family home sales are up 10.6 percent.

Single-family home prices saw a small uptick, with the median price increasing 1.5 percent from $325,060 in November ’23 to $329,990 in November ’24.

Single-family inventory is up 23.9 percent from this time last year and triple the level of March ’22, the recent low point. Though inventories fell slightly from October, there were almost 31,000 single-family homes listed for sale through the MLS in November.

The resale market for single-family homes in Houston remains buyer friendly. Inventory stands at 4.4 months, slightly above the 4.0 that indicates a buyer’s market. Houston has been in a buyer’s market with more than 4.0 months of inventory since June.

Mortgage rates have slipped in recent weeks following an uptick in October and November. The average interest for a 30-year fixed mortgage has fallen to 6.6 percent, down from 6.8 percent at the end of November and from a peak of 7.8 percent in October ’23.

Townhome, condo, and high-rise unit sales have ticked down due to softer demand. Active listings and months of inventories for these properties increased between November ’23 and ’24 while their prices declined. 

Prepared by Greater Houston Partnership Research

Patrick Jankowski
Chief Economist and Senior Vice President of Research
Greater Houston Partnership
pjankowski@houston.org

Colin Baker
Manager of Economic Research
Greater Houston Partnership
bakerc@houston.org