Patience is the name of the game in the 2021Houston real estate market. We currently have record low inventory, low interest rates and buyers chomping at the bit to find homes. According to the latest HAR release, single family home sales were up 13.6 percent compared to last June. On a year-to-year basis, homes sales remain 25.9 percent ahead of 2020’s pace. Sales of all property types totaled 13,090 – the greatest volume of all time. That is up 16.9 percent from June 2020. We must remember that many people were not buying and selling as much last year due to Covid.
Inventory is still at a historic low 1.4-months supply. Last June the Houston area had 3.2 months. The national inventory is currently at a 2.5-months supply. Days on the market remained at 34.