Houston home sales slump 10.2 percent in October

​​HOUSTON – Greater Houston’s real estate market stumbled in October, according to the Houston Association of Realtors. 

Single-family home sales across Houston totaled 5,873 units last month, down 10.2 percent compared to a year earlier. October marked the fifth month this year in which sales have fallen.

Autumn is traditionally a slower season for home sales.

The region’s housing inventory held at a 3.5 months’ supply, where it’s remained since July. Inventory is a rough measure how long it would take to sell out the entire listed supply of housing. By contrast, the national inventory was 4.8 months.

The tight supply helped push up home prices, even with the weaker demand. The average price of a single-family home came to $271,648 last month. That’s up 3.7 percent from a year ago and a new October record.