HOUSTON REAL ESTATE MARKET REPORT OCT 2022
By James Potenza Texas Buyer Realty, Buying, Selling, Relocating, New Construction
(Texas Buyer Realty)
HOUSTON HOME SALES COOL AS INTEREST RATES CLIMB IN OCTOBER Home prices moderate as inventory rises from record lows HOUSTON — (November 9, 2022) — Rapidly-rising mortgage rates dampened home sales in the Greater Houston area in October as the housing market cooldown continues. However, home prices are still well above where they were a year ago. October marked the seventh consecutive month of declining sales and rising inventory as the market continues toward a more normalized, pre-pandemic pace. According to the Houston Association of Realtors’ (HAR) October 2022 Market Update, single-family home sales fell 22.8 percent, with 6,641 units sold compared to 8,597 in October 2021. On a year-to-date basis, the market now trails 2021’s record-setting volume by 6.7 percent. All housing...
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