Houston housing prices hit record high in May

Despite extreme weather conditions, Houston’s real estate market saw strong activity in May, including record home prices.

According to the latest market update from the Houston Association of REALTORS®, single-family home sales increased 1.5% last month, with 8,538 units sold compared to 8,664 last May. Meanwhile, months of supply increased from 2.7 months to four months, the highest supply recorded since August 2019.

“The Houston market has once again demonstrated its ability to adapt,” HAR President Thomas Mouton said in a press release. “While weather disruptions may have impacted some sales, the market continued to be very active, with an increase in available listings and continued buyer interest. We are starting to see a more balanced market, benefiting both buyers with more options and sellers with sustained demand.

via HAR

The average home price reached an all-time high of $443,970, breaking the previous record of $438,350 set in May 2022. This represents a year-over-year increase of 3.6%. The median price increased 1.5% to $345,000.