Houston-area home prices fell in 2nd quarter, national Realtors group says

The median sales price in San Jose, Calif. passed the $1 million mark in the second quarter, according to the Houston Association of Realtors. The median sales price in San Jose, Calif. passed the $1 million mark in the second quarter, according to the Houston Association of Realtors. Photo: Realtor.com Photo: Realtor.com Image 1 of / 1 Caption Close Houston-area home prices fell in 2nd quarter, national Realtors group says 1 / 1 Back to Gallery

Houston was among 29 metro areas of 178 tracked where home prices fell in the second quarter, the National Association of Realtors said Wednesday.

The median existing single-family home price in Houston fell by 1.7 percent to $217,400 during the second quarter, down from $221,100 during the same period in 2015, the group said.

Houston-area home prices still are higher than last year's median price of $213,400 and well above the median prices of $198,400 in 2014 and $181,300 in 2013. They are below the national median price of $240,700, 4.9 percent higher than in the second quarter of 2015.

But local home prices are nowhere near those in San Jose, Calif., the nation's most expensive housing market. Homes there cost five times as much as the median-priced home in the Houston area, according to the report.

Record-high prices in the California city rose 10.7 percent during the past year to almost $1.1 million in the second quarter, according to the Realtors group. It marked the first time the median price of a metro area passed the $1 million mark.

San Jose was among 25 metro areas that had price gains of more than 10 percent during the quarter, according to the Realtors group.

According to the NAR, second-quarter prices fell most in Binghamton, N.Y., and Atlantic City, N.J., with each posting double-digit percentage declines.

Boulder, Colo., had the largest price increase, with the median sales price rising 18.5 percent to $549,600 in the second quarter.

Pricey places How Houston, Austin and Dallas compare with the nation's most expensive markets. Median second-quarter home price and one-year change: City Median Q2 price 1-year pct. change 1. San Jose $1,085,000 10.7 2. San Fran. 885,600 9.5 3. Anaheim 742,200 4.1 4. Honolulu 725,200 3.8 5. San Diego 589,900 7.7 25. Austin 289,100 6.7 51. Dallas 232,200 7.9 62. Houston 217,400 -1.7 Source: National Association of Realtors

The local Houston Association of Realtors, meanwhile, reported a median home price of $230,000 in July. The price, which factors in a small number of new homes, was a record for a July. Excluding new houses, the median price in Houston rose to $217,500 in July.