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Brokers closed on 10,915 single-family homes year-to-date through February ’26, according to the Houston Association of Realtors (HAR). That represents a minor 1.6 percent dip from the same period in ’25, putting sales in line with the pace of the past three years and still well above pre-pandemic norms. Sales of all property types (including single-family, duplexes, condos, townhomes, and highrises) declined by 2.8 percent over the same period due to softer activity in multifamily properties.

Prices for single-family homes sold through HAR’s Multiple Listing Service (MLS) have reached their lowest level since March ‘24. The 12-month average price for the median home stood at roughly $332,000 in February ’26, down from $336,000 in February ’25, and only $1,000 higher than in February ‘24. Still, prices remain substantially elevated relative to the start of the COVID-19 pandemic.

Even with home prices softening, borrowing costs remain a hurdle for some buyers. Mortgage rates have ticked up since the outbreak of conflict with Iran, as rising oil prices and renewed inflation fears have tempered expectations for Federal Reserve rate cuts. The average 30-year fixed mortgage rate climbed from 6.0 percent on March 5 to 6.2 percent by March 19, though it remains below the 6.7 percent level of a year ago.

Active listings of single-family homes on the market edged up from roughly 34,000 in December to 35,400 in February. This reflects a typical seasonal bounce back from the lows of December, when many potential home sellers hold off on listing their property until the end of the holiday season. Even with the increase, listings remained meaningfully below last July’s record of 40,000. If single-family homes were to continue selling at the current rate, it would take 4.3 months to sell the available inventory of homes on the market.

Townhome and condo demand cooled between February ’25 and February ’26, with sales down 7.4 percent and the median price down 3.4 percent as supply increased. Highrise activity slowed even more sharply, falling 15.1 percent, while prices climbed 2.8 percent, suggesting a smaller, more luxury-driven market than a year ago.

Prepared by Greater Houston Partnership Research

Colin Baker
Manager of Economic Research
Greater Houston Partnership
[email protected]