The Houston housing market is like a rock band on a comeback tour!

The Houston housing market is like a rock band on a comeback tour – it's still drawing a crowd, but not quite filling the stadiums yet. Sales declined for the 16th straight month, but don't fret; this is the smallest dip in over a year!

Single-family homes are down 8.5% this year, but hey, at least prices are stabilizing. The average price has risen just a smidge to $428,140, and the median price has politely declined by 2.3% to $340,000. It's like a clearance sale on the good stuff!

Homes in the sub-$100,000 range? They're the real stars here, with gains as unique as a unicorn sighting. As for renting, well, Houston, we have no problems – single-family home rentals are strong and confident.

Our buddy Cathy Treviño from HAR sums it up nicely: “We're inching back to normal, but folks are still a bit cautious – renting's looking pretty good these days.”

July's housing stats? Negative sales for the 16th straight month, but think of it as a diet – losing a bit here and there. The 8.5% dip in sales is the most modest drop since June 2022, so we're trimming the fat slowly.

Looking at inventory, we've climbed to a 3.2-months supply, the highest since May 2020. If you're into comparisons, the national supply is 3.1 months. We’re almost back to that “balanced market” sweet spot!

Here's a quick snapshot:

• Average price: $428,140 (up 0.6%)
• Median price: $340,000 (down 2.3%)
• $1 - $99,999 homes: increased 6.5%
• Townhouses/condos: declined 9.8%
• Days on Market: a leisurely stroll from 27 to 42 days

In summary, Houston’s housing market may have had a rough patch, but it’s learning to dance in the rain. Sales may be down, but with stabilizing prices and growing inventory, it’s humming a tune of recovery.

So, if you're on the hunt for a home, put on your favorite rock anthem and get ready to rock 'n' roll – Houston's market is ready to jam! 🎸