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Brokers closed on 26,295 single-family homes year-to-date through April ‘25, according to the Houston Association of Realtors (HAR). This represents a modest 0.5 percent decrease compared to the same period in ’24, with home sales remaining relatively stable despite last month’s high volatility in financial markets. Home prices grew marginally while inventories rose to their highest levels in almost 15 years. 

The price of homes sold through the HAR’s Multiple Listing Service (MLS) has continued to inch upwards. The 12-month average price for the median single-family home rose from roughly $333,000 in April ’24 to $336,000 in April ’25. This represents a 1.1 percent price increase, still far below the increases of 10 percent or more experienced in the years immediately following the COVID-19 pandemic.

Mortgage rates have remained steady since they rose in the final weeks of April, with the average rate on a 30-year fixed mortgage standing at 6.8 percent on both April 17th and May 15th. Concerns about rising inflation and treasury yields, which both contribute to higher mortgage rates, remain elevated relative to the start of the year. 

The number of single-family homes listed for sale through HAR stood at 34,989 in April ‘25, a 37.0 percent increase over April ‘24, which represents the largest number of listings since August ’10. If single-family homes were to continue selling at the current rate, it would take 4.9 months to sell the available inventory of homes on the market. That is up from 3.6 months of inventory in April ’24, indicating a market where the position of buyers is strengthening.

Demand for townhomes and condos has weakened, with sales falling by 15.2 percent and listings increasing by 44.6 percent year-over-year. Highrise units also saw decreasing demand as active listings increased by 14.4 percent and median prices dropped by 5.9 percent. 

Prepared by Greater Houston Partnership Research

Colin Baker
Manager of Economic Research
Greater Houston Partnership
bakerc@houston.org

Clara Richardson
Research Analyst
Greater Houston Partnership
crichardson@houston.org