From the MLS Report for July 2016 - The greater Houston real estate market experienced its first sales decline in six months in July, with the sharpest drop in volume reported among homes on the highest and lowest ends of the pricing spectrum.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), a total of 7,204 homes sold in July compared to 7,898 a year earlier. That represents a drop of 8.8 percent, the first decline since January. However, on a year-to-date basis, home sales are still up about one percent compared to this point in 2015.

Inventory levels continue to outpace last year, rising from a 3.5-months supply to 4.0 months. That is the largest supply of homes since November 2012 when it stood at 4.1 months.

You can see the complete report, including statistics for condos, townhomes and leases, here.