Home affordability in the Houston region has a more balanced position in the September housing affordability report from the Houston Association of Realtors.
At a glance: Single-family homes priced from $250,000 to $499,999, which accounted for more than 55% of all September sales, experienced a 1.3% decline compared to the same time last year, according to the report.
Digging deeper: The median home price was $327,000, which is 2.1% less than last year’s figure. The average price inched up 2% to $421,655, largely due to a rise in luxury home sales in September, per the release.
Quote of note: “The past few months have brought lower mortgage rates, and it has helped boost buyer confidence,” HAR Chair Shae Cottar with LPT Realty said in a statement.
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