Courtesty of Houston Association of Realtors
MLS Report for June 2016
HOUSTON-AREA HOME SALES COOL IN JULY
Single-family home sales decline for the first time since January while inventory remains over 2015 levels
HOUSTON — (August 10, 2016) — The greater Houston real estate market experienced its first sales decline in six months in July, with the sharpest drop in volume reported among homes on the highest and lowest ends of the pricing spectrum.
According to the latest monthly report prepared by the Houston Association of Realtors (HAR), a total of 7,204 homes sold in July compared to 7,898 a year earlier. That represents a drop of 8.8 percent, the first decline since January. However, on a year-to-date basis, home sales are still up about one percent compared to this point in 2015.
Inventory levels continue to outpace last year, rising from a 3.5-months supply to 4.0 months. That is the largest supply of homes since November 2012 when it stood at 4.1 months.
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