Houston’s housing market is finally slowing — but it’s not slowing as quickly as many other destinations that have become hotspots for migration during the pandemic, according to Redfin research.

The share of so-called “stale” listings in Houston — or homes that have been on the market for more than 30 days — jumped about 10% in the Houston area in July, according to Redfin. Today, approximately 60% of homes are on the market for 30 days or more in Houston.

But door-to-door sellers in other markets, popular pandemic destinations, will take a bigger hit. The share of “stale” listings in Austin, for example, rose nearly 51% year over year, according to Redfin. In Dallas, outdated listings jumped about 43%. And in Phoenix and Oakland, outdated listings increased by nearly 55% and 61%, respectively.

Places like Austin, Phoenix and Boise were among many pandemic-era “boom towns” that drew throngs of remote workers seeking more spacious living at an affordable price. An influx of out-of-town buyers, coupled with limited supplies in these markets, has driven prices to staggering levels. In Austin, for example, median home prices have climbed 58% over the past two years, reaching around $537,000 in June, according to the Austin Board of Realtors. Over the same period, median prices in Houston jumped 35% — still a huge jump to be fair, but at a less torrid pace than in Austin and other warmer markets.

Austin ranked No. 16 on the Redfin list fastest cooling markets – with San Jose, Sacramento and Oakland taking the top three spots thanks to a sharp drop in sales volume, a slowing pace of sales and more sellers cutting prices. Meanwhile, Houston wasn’t even on Redfin’s list of the 20 fastest cooling markets. (He placed 24th).

Home sellers might be a little shocked as homes linger on the market and they eye offers at prices below asking prices, but the slight slowdown is good news for buyers.

“People have internalized the narrative that the 2021 market was a normal market and many buyers may have lost hope,” said George Ratiu, senior economist and head of economic research at Realtor.com, weighing in on the Austin Stats. “Frankly, the 2021 market was anything but normal and this transition signals that more hope for buyers is on the horizon.”

Of course, that doesn’t mean Houston home sellers aren’t also facing a new reality. In June, more than a third of Houston cut its asking price, according to Redfin. And last month, home sales in the Metro experienced their biggest drop in sales volume — 17% — since the pandemic began, according to the Houston Association of Realtors.

With four months of declining sales in Houston, the pandemic shopping boom is officially over in Houston.

“The market took a 180 degree turn from early spring to late spring as buyers retreated due to high mortgage rates. Many sellers tell me they feel like they’ve missed the hot market,” said Christopher Johns, a Redfin agent in Houston.

For example, late last year around early spring, it was common for homes listed on Redfin in the Houston area to receive multiple listings.

“If we weren’t under contract in a few days, buyers and their agents would ask, ‘What’s wrong with the house? That’s the strength of a seller’s market,” Johns added. “Now a nice, well-priced home under $400,000 or even $500,000 in the Katy/Sugar Land area should be under contract in about 2-3 weeks.”

While it doesn’t look like homes are selling like hot cakes, a typical Houston-area home sells in about 26 days — about flat from a year ago, according to the Houston Association of Realtors. Before the pandemic, a typical Houston home spent 51 days on the market in 2019.

“It’s still a strong market for sellers,” Johns said. “It’s all about perspective.”

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