Houston Home Prices See Noticeable Drop Since Early 2024

Home prices across Houston have cooled notably since early 2024, offering a different landscape for buyers, sellers, and investors heading into the new year. According to recent analysis highlighted by CultureMap Houston, the city’s housing market has seen marked price decreases across several neighborhoods as elevated mortgage rates continue to shape demand.

The slowdown comes after multiple years of rapid appreciation, driven by population growth, tight inventory, and aggressive bidding during the post-pandemic boom. Now, with more homes available and buyers more rate-conscious, sellers are adjusting their expectations while buyers gain modest leverage.

How Much Prices Have Fallen

While the decline varies by area, across the broader metro region many neighborhoods have seen several percentage points shaved off peak prices. Higher-priced segments experienced the steepest corrections, while more affordable suburbs saw softer shifts. Real estate analysts note that price dips align with national trends but remain less dramatic than declines in some coastal markets.

Inventory levels continue to climb, giving buyers more breathing room. However, ongoing construction, job growth, and strong in-migration patterns continue to support long-term demand in Houston’s diverse real estate ecosystem.

Why It Matters

For prospective buyers, the shift offers improved affordability—though elevated mortgage rates still present challenges. For sellers, it may mean longer listing times and more competitive pricing strategies.

Economists watching the region say Houston’s real estate market remains resilient overall, supported by the area’s broad economic base and strong housing fundamentals.

This article is a summary of reporting by CultureMap Houston. Read the full story here.