Houston Housing Market

Home prices are declining in Houston, but affordability remains tight due to elevated mortgage rates and higher HOAs, taxes, and insurance costs. At the same time, record-high inventory and slower job and in migration gains are shifting the market away from urgency toward more opportunity for buyer–seller negotiation.

April home sales totaled about 7,800 in Houston, up 0.1% year over year, though the metro still ranked third nationally behind Chicago and Dallas–Fort Worth.

Activity remains below both 2023 levels and pre‑pandemic norms, as affordability constraints and cooling population and job growth offset the benefits of moderating prices and income growth.

While Houston’s economy is still expanding, growth has clearly cooled, with more selective hiring in cyclical sectors and slower job gains even in leading industries like healthcare and logistics. Population growth has similarly softened, with positive but moderating in‑migration and population gains increasingly concentrated in key suburban corridors.

Slower job creation and reduced in‑migration are reducing household formation and demand for housing. Homes are sitting longer on the market, and buyer–seller negotiations are becoming more common.

Active listings rose to 42,808 in April, up 11% year over year, adding almost 4,400 homes to the market. More sellers entered the market after delaying sales of homes financed with low mortgage rates. Market times remain elevated, with median days on market near 70, which is well above pandemic lows (sub 50 in March 2022).

April’s median sales price declined 1.6% year over year to $334,440, as higher ownership costs and slower employment and population growth continue to dampen demand.

The median home sale price in Houston decreased by 1.6% compared to the same time last year, while the national median price rose by 1.7%.

Houston median home prices decreased by $5,550 year over year on a nominal basis in April to $334,440. Meanwhile, the national median home price increased by $6,500 to $390,000.

Performance across major Texas metros remained weak, with year-over-year prices down the most in Austin and San Antonio, both 3.2%, then in Houston, 1.6%, followed by 0.1% in Dallas–Fort Worth.

Softer job growth and rising supply are prompting some sellers in Houston to adjust pricing. Employment gains remained subdued in 2026 following a sharp slowdown in 2025, when only 17,500 jobs were added, roughly a quarter of a typical year, as losses in energy, finance, and manufacturing offset gains in healthcare.

Houston was the 33rd highest-priced housing market among the top 40 largest markets last month. The Houston median home price of $334,440 was 14.2% below the national median home price. Houston's median home price in April compares to the market's peak of $350,000 recorded in July of 2024.

The median price of Houston single-family homes fell $6,823 over the past year to $338,178, while the median townhome price increased 5.9%, and the median condo price fell 5.3%.

The number of active listings in Houston increased by 11.4% in April compared to the same time last year, while national active listings rose by 6.3%.

Houston active listings rose by 4,381 year over year in April to 42,808 active listings. Houston ranked 15th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in April.

For context, Houston active listings rose by 11.4% or 4,381 year over year in April 2026. Houston active listings were 34% above the December 2019 total of 31,990.

Inventory growth has broadened across Texas as markets continue to rebalance after an extended period of tight conditions, with a recent construction boom bringing new supply online just as demand cools. Houston led the state with the largest year-over-year inventory increase (11.4%), followed by Dallas–Fort Worth (3%) and San Antonio (2.6%), while Austin was the only major market to post a slight decline (-0.2%), its first drop since January 2024. This rise in listings reflects a shift toward more normalized conditions, with buyers gaining more options and homes taking longer to sell.

Houston single-family active listings grew by 10.8% to 37,981 in April. In comparison, townhome active listings rose by 18.7% to 2,974, and condo active listings increased by 12% to 1,853.

The number of home sales in Houston increased by 0.1% in April compared to the same time last year, while national home sales rose by 0.6%.

Houston home sales increased by 11 year over year on a nominal basis in April to 7,803. For context, 7,792 sales closed in Houston in April 2025.

Houston ranked eighteenth for the annual change in home sales out of the top 40 U.S. markets in April on a percentage basis. This year's April increase of 0.1% compares to the 2% year over year decrease in April 2025.

Home sales declined in 22 of the 40 largest U.S. markets, reflecting broad-based softness nationwide. In contrast, several Texas metros led gains, with Dallas–Fort Worth, Austin, and San Antonio ranking among the top for annual increases, while Houston recorded a more modest rise, placing near the middle of the group.

Houston single-family sales decreased by 0.2% in April to 7,260. In comparison, townhome sales increased by 1.6% to 373, and condo sales rose by 11.1% to 170.

For questions and commentary about this report:

Itziar Aguirre, Senior Director of Market Analytics at CoStar and Homes.com, based in Houston, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Itziar Aguirre, Senior Director of Market Analytics

Homes.com

iaguirre@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all home sales are accounted for, they provide an early indication of home sale price appreciation, inventory changes, and sales volume during April 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.