![]() In terms of pricing, the average price of single-family homes dipped 1.3 percent to $419,929, and the median price fell 3.6 percent to $331,000. This indicates a potential stabilization compared to pre-pandemic levels. Nevertheless, when compared to April 2019, when sales volume totaled 7,673 units, the decline was just 4.7 percent. The April 2023 Market Update reported that single-family home sales were down 18.4 percent year-over-year, with 7,310 units sold compared to 8,955 in April 2022. It marked the 13th consecutive month of sales volume trailing behind the previous year and the third consecutive month of prices failing to surpass the levels of the previous year. However, when compared to April 2022, the market remained down. In this blog post, we will delve into the recent press release from the Houston Association of Realtors and explore the key insights and trends revealed in their April 2023 Market Update.ĭespite the continued volatility in mortgage rates, the Houston housing market showed signs of resiliency in April 2023. The Multiple Listing Service (MLS) of the Houston Association of REALTORS® plays a crucial role in the real estate market by providing a comprehensive database of residential properties and new homes listed by 50,000 REALTORS®. While challenges persist, there is optimism that the Houston housing market will strengthen in the coming months. With ongoing mortgage rate fluctuations and uncertainties, buyers are still turning to the rental market. ![]() The market remained stable when compared to pre-pandemic levels, offering a range of housing options for buyers as the prime sales season approaches. The Houston housing market exhibited signs of resiliency in April 2023 despite sales volume trailing behind the previous year and prices experiencing a decline.
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