Houston home sales dip 30% in November as more buyers sit on sidelines

Homebuyers are pumping the brakes in Houston, sending home sales volume down 30 percent in November from the year earlier in the steepest decline seen this year, according to a new report from Houston Association of Realtors. The sales slowdown has kept homes on the market longer, according to HAR, with Houston listings staying on the market an average of 48 days, compared to 35 days a year ago and 26 days at the height of the pandemic real estate boom in July 2021. Even if the Houston economy slides into a recession in 2023, the Greater Houston Partnership is still projecting a net gain of about 60,800 jobs in the region next year, which could dampen the impact on the home sales market.

Which Homes Can You Afford?

Get a list

How Much Is Your Home Worth?

Calculate Now

Continue to full article