Even though the numbers didn’t increase by much, sales perked up during February. This time last year, we were still dealing with Covid and the freeze. We should feel very fortunate that all of that is behind us. Hopefully we are off to a good start.
Single-famiily home sales were 22.9 percent better this year than February of 2021. They were 23.3 percent better than 2020.
The Houston area dropped to a 1.3 months supply of homes in February. The lack of inventory is definitely causing a lower number of sales and rising prices. Bidding wars are very common.
Days on market climbed to 41 days. This is the highest it has been since April 2021.
>>>Learn more about the Houston housing market and the 2022 Consumer Electronics Show.