“A Look Inside The Houston Market Continued”
- Housing supply in Texas increased 0.8 months in the second quarter of 2022 to 2.1 months of inventory. This is the first time inventory has increased year-over-year since the third quarter of 2019 and the first time it has been above two months of inventory since the third quarter of 2020.
- The rapidly rising interest rates, increases in home price, and tight housing inventory had a slowing effect on home sales in the second quarter of the year, but the Texas housing market is still strong.
- The data could indicate signs of a transition period for the Texas real estate market. If inventory continues to steadily increase and home sales price appreciation begins to slow, we could be moving towards a pre-pandemic environment.
- Right now, it’s crucial for homebuyers and sellers to equip themselves with accurate information and reliable resources. Working with a Texas REALTOR® is the optimal way to make an informed and timely decision in what is still a very active real estate market in every area of the state.
Information from Texas REALTOR
