Houston housing market: Is it a good time to buy or sell?

Mortgage rates are at a one-year low but remain high compared to past years, limiting buyer activity. In Houston, August home sales rose nearly 12%, with prices steady at an average of $422,000. Inventory is high, with 40,000 homes available, leading to longer selling times. Sellers may need to offer incentives as bidding wars fade. Starter homes remain scarce and unaffordable for many. Rates may drop to around 5% by late next year, balancing the market.