Houston-area single-family home sales decreased by 1.5% year-over-year in May, while month-to-month sales rose by 7.7%.Inventory levels reached their highest since before the pandemic in 2019.
The months’ supply of homes increased from 2.7 in May 2023 to 4.0 in May 2024, the highest since August 2019, which had a 4.1-month supply. Compared to April, the months’ supply of homes rose from 3.7 to 4.0. Total property sales fell by 3.1% year-over-year, and the number of available properties is 38.2% higher than this time last year.
