At a time of year when the real estate market typically experiences seasonal declines, this fall is bringing just the opposite.

New listings in Houston in the week ended Sept. 9 outpaced those placed a year ago, the Houston Association of REALTORS said.

While the average monthly housing payment in the U.S. fell to its lowest level since the start of the year, it isn’t improving sales, as potential buyers are holding out for lower mortgage rates.

The median single-family price slid 0.3% from $338,000 to $336,940, according to the latest Market Update from the Houston Association of REALTORS®. 

Specifically, prices rose 4.3% annually after growing by 4.7% in June. 

Closed home sales fell 5.3% year over year during the week ended Sept. 2, the Houston Association of REALTORS® said.

Realtors added 14,910 properties to the Houston MLS in August, an 18.6% increase year over year.

The priciest new listing in the Lone Star State is a $27.5 million estate in Southlake, listed by Michael Hershenberg of Real.

Realtors added 3,623 properties to the Houston MLS in the week ended Aug. 26, up from 2,901 properties during the same week in 2023.

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

Closed home sales fell 13% year over year in the week ended Aug. 19, sliding to 1,434 from 1,649 a year earlier. 

The priciest home sold in greater Houston last month was a 10,468-square-foot house in the River Oaks Tall Timbers subdivision, which was listed and sold by COMPASS agents. 

Competition in the housing market is expected to reignite as falling mortgage rates breathe new life into buyers, according to Zillow’s latest report. 

At the same time, closed home sales fell 13% in the latest weekly report from the Houston Association of REALTORS®. 

The latest Market Update from the Houston Association of REALTORS® shows a 1.8% year-over-year increase in all single-family home sales.