This article is over 8 years old


Home Inventory Tightens In September, As Prices Continue To Soar

Realtors fear the lack of affordable housing could dent Houston’s future growth.



To embed this piece of audio in your site, please use this code:

<iframe src="" style="height: 115px; width: 100%;"></iframe>


Single-family home sales for Greater Houston totaled 6,490 units last month, according to the latest numbers from the Houston Association of Realtors. That’s up 7 percent from September of last year. The average price of a home came to $269,440 — an increase of 8.2 percent, year over year.

Shad Bogany, immediate past chair of the Texas Association of Realtors, worries the rapid rise in prices could wind up hurting Houston’s growth prospects. “The reason so many people are moving to Texas and moving to Houston specifically is because of the job market and the affordability of housing,” Bogany says. “Well, when you start off that your average price is $269,000, I think the affordability has almost gone out the door there.”

New home construction across Greater Houston remains far short of demand. Inventory dropped back to 2.9 months in September, after holding at a 3-month supply in July and August. Inventory measures how long it would take to sell out the entire listed supply of housing. A balanced market, where the supply of homes matches demand, is generally defined as six months.

Today in Houston Newsletter Signup
We're in the process of transitioning services for our Today in Houston newsletter. If you'd like to sign up now, fill out the form below and we will add you as soon as we finish the transition. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. Your subscription will be migrated over.
Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew Schneider is the senior reporter for politics and government at Houston Public Media, NPR's affiliate station in Houston, Texas. In this capacity, he heads the station's coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments...

More Information