As we see the most homes sold record of all time, experts say market stability is likely on the horizon.

With more than 13,000 transactions, June’s sales volume established a highest new record. Not just for 2021; this is the most sales Houston’s ever seen. Consumers bought $4.8 billion of real estate last month, accounting for a 44% jump compared to last June.

Low mortgage rates continue to enable buyers to afford more. Luxury home sales again saw the largest year-over-year jump, a jaw-dropping 136% increase since June of 2020. In response, the average single-family Houston home pricing reached a new record of its own, climbing to $395,000.

Experts continue to anticipate the trajectory’s downturn to arrive in the foreseeable future. “The Houston housing market is in overdrive right now, and we know anecdotally that out-of-town investors have contributed to the frenzy,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “We saw similar investment activity following Hurricane Harvey, and within a few months, the market stabilized. We expect stability to return this time around, so anyone in the market for a home who is frustrated by current market conditions needs to be patient.”

The menu is indeed growing. Months supply has continued to tick upward, now reaching the highest supply seen since February. However, at a meager 1.5 months inventory, buyers must still act fast in order to get to the front of the line. Stay hopeful, buyers! There’s light at the end of the tunnel!