An Axios analysis of Houston homes on Zillow shows that prices are still rising, especially in the suburbs.
From July to October 2022, the area in the Houston MSA that saw the largest price increase was High Island (area code 77623), where the typical home price rose 12.1% from $269,400,00 in July to $302,100,000 in October. Other areas in greater Houston with notably high price increases were Stowell (+9.8%), Wallisville (+8.6%) Bay City (+8%) and Anahuac (+7.8%).
In comparison, homes in the 77002 zip code (downtown Houston) decreased in price by 0.1% during the same period of time. The Houston area with the largest price decrease was Magnolia Park (-3.4%).
Home prices are predicted to increase up to 4.5% in Houston in 2023, according to Realtor.com. The site also predicts a 2.9% increase in the quantity of homes sold in 2023.