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The May Housing Market Update from the Houston Association of Realtors reports pending single-family home sales in the Greater Houston area are at their highest point since May 2022.
However, there has been a slight decline in closings and total sales since last May, data shows.
By the numbers: Single-family home sales fell by 3.2%, with 8,631 homes sold in May compared to the 8,915 sold last May. Meanwhile, home prices grew 0.4%, bringing the median price to $340,000.
Total property sales across the Houston area fell by 3.1% with 10,088 properties sold, and the number of active property listings rose by 0.7%, equaling 57,592.
What the experts say: “The increase in contract activity tells us prospective buyers remain confident in our local housing market,” HAR Chair Theresa Hill said. “People are continuing to make moves for life reasons, and many are finding that today's market offers more flexibility and more choices than we've seen in recent years.”
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