Home sales rebounded in April amid pre-pandemic inventory volumes, according to the latest Market Update from the Houston Association of REALTORS® (HAR).

Single-family home sales rose 9.2% last month, with 7,926 homes sold compared to 7,256 in April 2023. Meanwhile, months of supply rose to 3.7, up from 2.6 months a year prior. That’s the highest inventory recorded since October 2019, when there was a 3.8-month supply.

All housing segments experienced increases last month. The greatest jump in home sales was seen in the luxury $1 million-plus segment, which surged 33.8% year over year.

“The spring homebuying season seems to be blossoming later than usual this year,” HAR Chair Thomas Mouton said in the report. “While elevated interest rates continue to be a factor, the rebound in April home sales shows buyers are adapting to the new market realities, and sellers are finding opportunities as inventory levels rise.”

Amid higher sales, the average sale price of a single-family home rose 4.6% to $437,198, while the median price rose 3% to $340,000.