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Brokers closed on 26,769 single-family homes year-to-date through April ’26, according to the Houston Association of Realtors (HAR). That is up 1.7 percent from the same period in ’25 and marks the fastest pace of sales through April since ’22, when buyers rushed to lock in purchases before mortgage rates climbed sharply. Moderating prices and a growing inventory of homes for sale indicate a market that is becoming more buyer-friendly.

Single-family home prices tracked through HAR’s Multiple Listing Service (MLS) have eased to their lowest level since October ’23. The 12-month average sales price for the median home sold through the MLS stood at roughly $332,000 in April ’26. That is down 1.3 percent from $336,000 in April ’25. However, the recent dip is modest and has not meaningfully reversed the sharp price gains recorded during the pandemic and its recovery.

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 February 26 before the conflict to 6.4 percent by May 15. Still, the rate remains well below the 6.8 percent level of a year ago.

Active listings of single-family homes on the market edged up from roughly 34,000 in December to 38,000 in April. 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. 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.

Townhome and condo demand was relatively flat between April ’25 and April ’26, with sales down just 0.4 percent even as the number of properties for sale increased. A 7.0 percent increase in prices for these properties suggests a shift to higher-quality units. Highrise activity was markedly weaker, with sales down 19.0 percent. Falling prices and fewer listings point to softer demand being met by a pullback in supply as some existing units are pulled off the market.

Prepared by Greater Houston Partnership Research

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