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HOUSTON AREA MARKET UPDATE
A MONTHLY SNAPSHOT OF HOUSTON’S REAL ESTATE MARKET FOR JULY 2021
Houston had the first month in over a year with a year-over-year decrease in single-family home sales, we were down 6.1%. In this case, it is important to look beyond just the statistic. July 2020 was shortly after businesses reopening post the Covid shutdowns and many closing delays were resolved. This led to July 2020 having an incredibly high number of closings, which we could not match, even in the current market.
Our active listings remain down with a 20.6% decrease from last year and our inventory remains very low at 1.8 months for the overall metro area.