HOUSTON HOUSING GETS ANOTHER TAP ON THE BRAKES IN JULY
By Danny Frank, The Pearland Real Estate Expert
(JLA Realty)
A fourth straight month of declining sales brings the market closer to more normal, pre-pandemic conditions HOUSTON — (August 10, 2022) — The frenetic pace of home sales that dominated the Houston housing market throughout most of the pandemic continues to slow its roll. Some consumers, facing record pricing, rising interest rates and limited inventory, have moved to the sidelines or opted to rent. Home sales experienced their fourth consecutive monthly decline in July, while new listings buoyed inventory to the highest level in two years. According to the Houston Association of Realtors’ (HAR) July 2022 Market Update, single-family home sales dropped 17.1 percent, with 8,370 units sold compared to 10,102 in July 2021. That is the lowest one-month sales volume since January 2022. On a y...
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