Houston home prices continued to climb in July, rising to an average of $314,775, but fell $1,688 shy of the all-time record set in June, a preliminary report showed.
The Houston Association of Realtors released its First Real Estate Snapshot of Houston report, which showed a 1.4% rise in the average single-family home price.
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Last month, HAR reported a record average sales price of $316,463 for single-family homes that sold in June.
A shrinking number of homes listed for sale could put upward pressure on prices.
New listings are down 2.1% to 12,421, according to the First Real Estate Snapshot of Houston report. Active listings are down 3% to 27,853.
