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The April Housing Market Update from the Houston Association of Realtors reports an increase in inventory in the Houston market this month. Along with the increase in inventory, the average price for a single-family home decreased.
By the numbers: According to HAR, the average single-family home price decreased in April by 1.4% to $428,709—a drop from $434,925 last April. Active single-family listings grew by 6.5% year over year, allowing home buyers to have more options in a more stable market, according to the report.
This increase in property sales is in line with the HAR report released in March. As previously reported by Community Impact, the single-family home sales in March increased by 3.7% with 7,644 homes sold.
“More inventory is giving buyers room to breathe again,” HAR Chair Theresa Hill said. “Homes are still moving, but consumers have more time to make decisions and more leverage during negotiations.”
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