Despite continued strength in the Houston real estate market fueled by more robust inventory and low interest rates, June home sales could not match the historic levels of a year earlier, in June of 2018. According to the latest monthly report from the Houston Association of REALTORS® (HAR), single-family home sales were down 3.4 percent. However, on a year-to-date basis, sales are still outpacing 2018’s record volume.

Homes in the $250,000 to $500,000 range comprised the only housing segment to enjoy sales gains when compared to last June’s record-breaking performance. The luxury segment (homes priced at $750,000 and above) was flat.

The median price of a single-family home (the figure at which half of the homes sold for more and half sold for less) reached an all-time high, climbing 2.9 percent to $252,000. The average price rose to the highest level ever for a June, up 2.0 percent to $321,973.

Consumers shopping for a home in the greater Houston area now have more options available, as housing inventory reached a 4.4-months supply in June – returning to levels last seen before Hurricane Harvey ravaged the market in August 2017. A year ago, the supply stood at 4.1 months.

June sales of all property types totaled 9,461. That is down 5.1 percent compared to the same month last year. Total dollar volume for the month declined 3.1 percent to $2.9 billion.

“We knew it would be difficult to top last June’s record-breaking sales volume, but the Houston real estate market remains strong and now offers prospective buyers an even greater selection of housing than they’ve had in some time,” said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. “Consumers also continue to show interest in rental properties, which had another impressive performance in June.

Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 37,000 REALTORS®