THE DATA

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Our internal numbers in 2022 & 2023 compared:

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• New Yard Sign Installations: 601 | 603
  - Up by 0.4%

• Length of Active Yard Signs: 22 | 31
  - Up by 9 days

• Yard Sign Removals: 509 | 529
  - Up by 3.7%

• Additional Services: 287 | 262
  - Down by 8.8%

• 'Stale' Listings (120 days +): 29 | 42
  - Up by 31%

_{*Includes adjustment for larger client base}

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WHAT IT MEANS

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• Stale Listings sees a significant increase by 31% which is not as positive as it sounds. Due to the increase, this means more houses are staying on the market for 120 days or longer.
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• We don't see a significant change in the New Sign Installations from 2022 to 2023.
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• Though we did see a jump in New Sign Installs from April to May, it was only 80% of last year's increase during that time.
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• Length of Active Yard Signs has stayed consistent throughout 2023, however we see a noticeable 4 day increase from the previous month's average.
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• BOOM! With Yard Sign Removals being up by almost 4%, Sign Boss Agents crushed the Houston market average that saw a decrease of 18.3%.
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• For the first time in 2023 there was a decrease in Additional Services, and a notable one at that coming in at just below 10%.

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GENERAL ANALYSIS

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Sign Boss agents have seen rising numbers and they continue to increase. According to a new HAR report, house sales fell once more in May compared to this same time last year, continuing a 14-month trend of decline.

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This could mean we have made it through the worst of the slowdown, and we are starting to see more home sales. With Additional Services decreasing, this could also mean more of an increase in home sales and less time on the market.

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We are officially halfway through 2023, and we can assume the Houston housing market is on its way to stabilizing. This is in context from our previous month's analysis which you can review here (JAN, FEB, MAR, APR)

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We expect that Houston's real estate market growth will continue to slow down, but at a consistent rate.

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HOME SWEET HOME

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As we know, the Houston housing market is unique. We see that buying is cheaper than renting and according to Axios Houston the median price of a home in Houston was down by 3.1% from last May. While this situation is a rarity, the ongoing inventory issue still remains.

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Our Sign Boss clients really knocked it out of the park this month compared to our 'non-BOSS' agents. April was the first month that we did not outperform the Houston housing market at large, BUT we are back and better than ever!

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The first six months of the year have been a rollercoaster to say the least. We have seen positive increases and decreases, but have had negatives as well. We strive for a stabilized market to come and growth for the next half of the year.

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With that being said, the first half of the year was one for the books. After all, we Realtors need closure.

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YOUR THOUGHTS?

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What are your thoughts on the market? What else would you like to know? Shoot us your thoughts. We plan on sending out these unique market analysis reports regularly to help our agents better grasp what's been going on and more importantly what to expect.

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