Houston home sales fall below pre-pandemic levels, a sign of return to more normal conditions
Homes in the Houston area sold for a median price of $331,000 in April, according to the Houston Association of Realtors.The number of Houston-area home sales dropped below pre-pandemic levels last month, signaling a return to a more normal market amid higher mortgage rates and economic uncertainty.
Homes sold for a median price of $331,000 in April, down 3.6 percent from a year earlier and almost 7 percent less than the record $353,995 in June. The average sales price fell by 1.3 percent to $419,929 — about $20,000 off the high of $438,327 in May 2022.Houston’s homebuying season is in full swing. See how prices in your neighborhood changed last year.
Mortgage rates have come down — to an average 6.39 percent from more than 7 percent in November — but that still leaves homes out of reach for many buyers. The median home price has soared by 35 percent since April 2019 when it was $245,000, according to HAR.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Houston shooting: 17-year-old charged with multiple counts of aggravated assault in southwest Houston17-year-old Bairon Guerra is facing serious charges after a shooting incident that took place in southwest Houston in April.
Read more »
Houston weather updates: Flood watch issued for Houston area by National Weather ServiceLive Houston weather updates: Flood watch issued for Houston area by National Weather Service
Read more »
2-year-old fatally struck by vehicle while playing outside SW Houston apartmentsHouston police said it happened in the 6000 block of Ranchester Drive at around 7:30 p.m.
Read more »
Former Houston Astros' coach, Sugar Land Space Cowboys Special Asst. Deacon Jones passes away at 89The Houston-area baseball community is mourning the loss of one of its legends, Deacon Jones, who passed away Sunday. He was 89.
Read more »