Spring Houston Market Update

Houston Housing Market Update: May Snapshot

The Houston real estate market showed notable momentum in May, suggesting a steady spring selling season with signs of recalibration.

Single-Family Surge Amid Price Adjustments
Single-family home sales saw a healthy 6.8% year-over-year increase, marking a positive uptick in buyer activity. Despite this growth, price points experienced modest declines. The median price dipped 1.2% to $339,425, and the average price slid 0.7% to $438,230. Homes also lingered a bit longer on the market, with the Days on Market (DOM) inching up from 46 to 50 days.

Inventory Gains Offer More Breathing Room
One bright spot for prospective buyers: inventory continued to loosen up. The months of supply for single-family homes expanded to 5.2 months, up from 3.9 months a year ago, pointing to a more balanced market dynamic.

Townhomes and Condos Take a Hit
The multifamily segment, however, faced challenges. Townhome and condominium sales dropped 12.9%, with the median price falling 8.3% to $221,500 and the average price declining 5.5% to $265,903.

Total Transactions Still on the Rise
Despite mixed signals across categories, total property sales were up 4.6%, with 10,565 units sold in May—an encouraging sign that buyer confidence remains intact.

I'm Ryan with The Bridge Group

"Let's find a home you like"

(832) 621-5321

ryan@bridgegrouptx.com