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Despite the fact that sales were down every month of the year, the Houston housing market performed respectably in 2023. After defying sales expectations throughout the pandemic – when we quickly learned that people needed housing just as much as they did before the global crisis – the market seized upon 2023 as a time to normalize. Now, as we enter the final weeks of the year, we see vastly improved housing inventory and moderating prices.
By Cathy Treviño, chair, Houston Association of Realtors After conquering the challenges of a global pandemic, Houston real estate found itself unable to withstand the powerful economic headwinds that began swirling in early 2022 and that ultimately ended a long and much-admired record-setting run.
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