Houston Homebuyers Find More Choices Amid Shifting Market

Home sales in Houston fell 5.7% with 7,030 single-family homes sold, amid 5.5 months of inventory, giving buyers more options. Sellers face reduced pricing power and must price homes appropriately to sell quickly. The average 30-year mortgage rate reached 7.4%, the highest in nearly three years. The market is nearing a buyers' market, influenced by supply, mortgage rates, affordability, and location-specific demand.