The Houston-area housing market saw 13 consecutive months of positive sales come to an end in July due to what the Houston Association of Realtors described as a statistical anomaly.
A surge in pandemic-delayed home closings in July 2020 set regional real estate records “that were no match for even the robust pace of the current market,” according to the Houston Association of Realtors.
Single-family home sales decreased 6.1 percent year over year to 10,159 units sold, the Houston Association of Realtors reported. Total property sales for the month totaled 12,383 — the third greatest volume of all time. All-in-all, total dollar volume for the month increased 11.4 percent to $4.5 billion.
On a year-to-date basis, local home sales in 2021 currently exceed 2020′s record pace by 19.1 percent.
High-end home shopping dominated the market in July. The luxury segment, homes priced at or above $750,000, saw an 36.7 percent increase in sales. Homes priced…