Here’s a recap of the current trends that are shaping our market.
August brought with it the return of students to school and a sense of increased normalcy. As we dive into this month’s real estate market update, let’s examine the numbers that have been shaping our market trends over the last few months.
Total Property Sales
In comparison to the same month last year, total property sales experienced a slight decline. This dip could be attributed to various factors, such as seasonal fluctuations and the ongoing impact of the COVID-19 pandemic. However, the Houston real estate market remains resilient, as it has in the past.
Active Listings and Inventory
On a positive note, active listings saw an increase, leading to an overall uptick in available inventory. This rise in inventory can be advantageous for potential buyers, providing them with more options to choose from.
Pending Sales Index
One promising trend that continued in August was the increase in the pending sales index compared to the same period last year. When the total property sales and pending sales indexes are within 5% of each other from the previous year, it indicates a return to stability and normalcy in the market.
Houston, known for its strong job creation and attracting newcomers to the area, remains a national leader in these aspects. This enduring appeal contributes to the city’s market resilience, even in the face of uncertainties.
If you have any questions about these statistics or the general state of the market, please don’t hesitate to reach out to us by phone or email. We are here to assist you and provide the information you need to make informed decisions in this dynamic real estate landscape.