Houston saw one of the largest increases in new listings in the country last month, according to the RE/MAX National Housing Report.
Realtors added 11,088 properties into the MLS during October, a 13% increase year over year. That’s the fourth-highest rate of increase in the country.
Despite the notable increase to local inventory, home sales in the greater Houston area fell 8.5% year over year. The average home sold in 39 days — five days faster than last November.
The median sale price dropped 0.6% to $328,000 in October. That’s well below the national median sale price of $410,000.