Houston Homebuyers Gain More Choices in Evolving Market

Houston home sales dropped 11.5% year-over-year, with houses averaging 60 days on the market and median prices down 1.5%. Higher mortgage rates, around 6.95%, are increasing borrowing costs, impacting affordability and slowing the market. Despite 39,000 single-family homes listed and over five months of inventory, prices remain stable, indicating a slowdown rather than a market collapse.