"Inventory Trends Active listings in Houston soared by an impressive 18.9% compared to the same period last year, reaching a total of 10,691 homes. This substantial increase in inventory surpassed the national growth of 12.1%, unveiling a plethora of options for eager buyers. Although the number of newly listed homes decreased by 7.4% year-over-year, this was contrasted by a smaller national decline of 1.8%."
"Price Movements Houston's median listing price experienced a noteworthy decline of 3.8% year-over-year, settling at $320,000 in December. This decrease was more significant than the national trend, which saw a modest drop of 0.6%, marking a unique opportunity for buyers to secure desirable properties at softened prices. Interestingly, the share of listings with price reductions slightly decreased by 0.4 percentage points from last year, to 12.2%, which was below the national price reduction share of 12.9%."
"Time on Market Homes in Houston lingered on the market for a median of 61 days in December, marking an increase of 6.1% from the previous year. This was still faster than the national median of 73 days, which also saw a smaller annual increase of 5.0%. The extended time on the market hinted at a cooling in buyer urgency or potential overpricing, presenting a window of opportunity for buyers to negotiate and make strategic offers."
Active listings in Houston rose 18.9% year-over-year to 10,691 homes, outpacing the national increase of 12.1%. Newly listed homes fell 7.4% year-over-year compared with a national decline of 1.8%. The median listing price in Houston declined 3.8% year-over-year to $320,000, a larger drop than the national 0.6% decrease. The share of listings with price reductions edged down 0.4 percentage points to 12.2%, below the national 12.9%. Median days on market increased 6.1% to 61 days, remaining shorter than the national median of 73 days. The combination of higher inventory, softened prices, and longer exposure created negotiating opportunities for buyers while extending selling timelines for sellers.
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