Houston home prices hit record high

HOUSTON – Local home prices reached an all-time high in May, according to the Houston Association of Realtors’ monthly report, with the average single-family home jumping 3.6 percent over the year to $443,970.

The median home price rose 1.5 percent to $345,000, the highest in nearly two years.

High-end homes pushed up the average sales price. Sales of houses priced at $1 million or more climbed 9.6 percent, while those priced from $500,000 to $999,000 increased 6.8 percent. Sales volumes were down for homes priced below $500,000.

Meanwhile, sales slipped 1.5 percent to 8,538, down from 8,664 in May 2023.

Active listings increased to 28,481 single-family homes, a nearly 50 percent jump over May 2023 and similar to pre-pandemic levels.