Signed contracts declined despite lower interest rates and improved affordability and inventory, the National Association of REALTORS® said.   

Dallas agent Michelle Wood of Compass RE Texas is responsible for listing two of the 10 most expensive new listings in the Lone Star State.

Most of the Bayou City’s new apartments — over 7,700 — are located in Houston proper, followed by Cypress at 1,343 units and Spring at 1,109.

The upside surprise came despite monthly and yearly declines in the pace of sales. 

The typical $1,500 apartment in Houston is about 972 square feet — over 200 square feet bigger than the national average, according to RentCafe.

Nationally, home sales rose 0.6% year over year but slid 0.7% month over month, RE/MAX said. 

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. 

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.

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.

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.