Even as greater Houston home sales increased 2.7% year over year, local inventory jumped 40.8% in June, according to the RE/MAX National Housing Report.

Houston registered the third-highest number of closed transactions last month, with 7,518 homes sold compared to 7,322 in June 2023.

Despite increased sales activity, inventory skyrocketed during the month thanks to a healthy influx of new listings. Realtors added 14,741 properties to the MLS in June, the second-highest amount behind New York, where over 15,000 properties were added to the market. A year prior, Houston Realtors added 13,023 properties to the market, marking a year-over-year increase of 13.2%.

Those new listings propelled Houston inventory to the second-highest volume in the country: There were 29,465 properties on the market in June, a 40.8% increase over June 2023, when there were 20, 926 homes for sale in Houston.

Meanwhile, median home sale prices rose 0.5% to $346,820, while the average home took 40 days to sell — three days longer than this time last year.