Housing affordability a concern as average listing prices climb

by Lindsey Wells

The average list price (ALP) for a Houston home rose to an all-time high in February, supporting ongoing concerns about housing affordability in 2022, the Houston Association of REALTORS® (HAR) reported this week. 

The First Real Estate Snapshot of Houston (FRESH) report, released by the HAR on the first day of every month, sums up the local real estate market between monthly Multiple Listing Service (MLS) reports.

Houston buyers in February saw the average home’s listing price soar 10.6% year over year to $400,753, edging past the previous ALP high of $399,946 in December 2021.

Last month, new listings saw a 16.3% year-over-year boost, although that figure was skewed by the freeze that wrought havoc across Texas in February 2021, the report noted. Realtors entered 9,435 properties into the MLS in February versus 8,111 during the same month last year.

Active listings in February were 15.1% lower year over year, reflecting the overall steady pace of homebuying in 2021. The MLS reported a total of 10,622 properties in February compared to the previous year’s 12,510. 

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