The association said the housing market is making a definitive swing back in the direction of the buyer thanks to wage growth, slowing home-price gains and rising inventory. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

International transactions increased 9% year over year, with 7,500 purchases made by foreign homebuyers.

Compass agent Laura Sweeney listed the top three most expensive homes sold in greater Houston last month, plus two other homes in the top 10.

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

Both pending and closed listings increased annually during the week ended Aug. 11, according to the Weekly Activity Snapshot from the Houston Association of REALTORS®.

Active listings jumped 38.2% year over year to an all-time high 40,112 properties. Meanwhile, home prices saw the largest annual decline since 2023 as the median dropped 3.1% to $339,000 and the average fell 1.9% to $434,664.

Given that increased affordability, Houston households needed a yearly income of at least $98,400 to afford a median-priced home, down 2% year over year.

New listings jumped 19.4% year over year as Realtors added 4,168 properties to the MLS, up from 3,491 during the same week in 2024.

NAR’s report — which surveyed nearly 5,000 Realtor members — also found that the typical agent took on 10 transactions in 2024, the same as a year prior.

As the spring homebuying season ended, U.S. home price growth softened significantly, opening the door to improved affordability.

Home-purchase activity remained elevated from 2024, but a cloudy economic outlook has deterred some would-be homebuyers. 

All but three communities on HAR’s list had prices lower than the area median average ($450,235).

Three of the most expensive new listings in Texas are located on the same street — West Friar Tuck Lane — in Houston.

After years of fast-paced home sales, tight inventory and relentless price growth, the U.S. housing market may finally be entering a new chapter.

Closings declined annually for the first time in a month, HAR said, with 1,815 home sales, down 8.5% from a year prior.