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Brokers closed on 35,332 single-family homes year-to-date through May ‘25, according to the Houston Association of Realtors (HAR). This represents a 1.2 percent increase compared to the same period in ’24, with buyers taking advantage of stable prices and a growing number of homes on the market.

The number of single-family homes listed for sale through HAR hit 37,455 in May ’25, a 35.0 percent increase over May ’24. This is near an all-time high and represents the largest number of active listings since September ’07. If single-family homes were to continue selling at the current rate, it would take 5.2 months to sell the available inventory of homes on the market. That is up from 3.9 months of inventory in May ’24, indicating a market where the position of buyers continues to strengthen.

The prices of homes sold through the HAR’s Multiple Listing Service (MLS) have been largely stable. The 12-month average price for the median single-family home ticked up from roughly $333,000 in May ’24 to $336,000 in May ’25. This represents a 0.8 percent price increase - far below the increases of 10 percent or more experienced in the years immediately following the COVID-19 pandemic.

Mortgage rates have also remained stable after rising in the final weeks of April, with the average rate on a 30-year fixed mortgage standing at 6.8 percent on both April 17th and June 12th. Concerns about rising inflation and treasury yields, which both contribute to higher mortgage rates, remain elevated relative to the start of the year. 

Demand for townhomes and condos has weakened, with sales falling by 12.9 percent and listings increasing by 44.7 percent year-over-year. Highrise units also saw decreasing demand as active listings increased by 18.6 percent and median prices dropped by 22.0 percent. 

Prepared by Greater Houston Partnership Research

Colin Baker
Manager of Economic Research
Greater Houston Partnership
bakerc@houston.org

Clara Richardson
Research Analyst
Greater Houston Partnership
crichardson@houston.org