Courtesy of the Houston Association of REALTORS®.

The pace of home sales in Houston slowed for the fourth consecutive month on a year-over-year basis in August as home prices moderated. 

According to the latest Market Update from the Houston Association of REALTORS® (HAR), single-family home sales dropped 8.3% last month, with 7,340 units sold compared to 8,006 last August.  

Meanwhile, the median single-family price slid 0.3% year over year from $338,000 to $336,940. The average single-family home price rose 0.9% to $421,912, compared to $418,064 a year earlier. Months of single-family home inventory jumped to 4.5 months from 3.2 months in August 2023, the highest supply seen since September 2012. 

“Although sales have slowed, the Houston housing market is still in good shape,” HAR Chair Thomas Mouton said in a press release. “Expanding inventory and easing mortgage rates are offering buyers more opportunities. A potential Fed rate cut later this month could further boost consumer confidence and home sales.”