Houston Housing Market Shows Signs of Stability

The Greater Houston housing market showed improvement in September, with a 1.7% increase in single-family home sales year-over-year, confirming a trend towards stability. Inventory rose from a 3.4-month supply to 4.4 months, the highest level since September 2012, while home prices remained relatively stable, with the average price at $415,435. In contrast, Central China Real Estate Limited reported only a 0.1% rise in contracted sales for September, alongside a significant 43.7% drop in total contracted sales for the first nine months of 2024. Indiana also saw a slight uptick in home sales, with a 1% increase compared to last year, attributed to lower mortgage rates and increased inventory. Meanwhile, East Baton Rouge Parish experienced a minor decline in commercial sales transactions, although the retail sector rebounded from prior declines. Overall, various regions are reflecting mixed trends in their real estate markets, highlighting differing local economic conditions.