What 5.7 Months of Inventory Actually Means If You're House Hunting in Katy or Cypress

The market finally turned

Single-family inventory across Houston sits at 5.7 months. That's a 36% jump from last June. For anyone shopping in Katy, Cypress, Hockley, or the 77084 and 77095 ZIPs, this is the first time in a long while that the power isn't sitting entirely on the seller's side of the table.

Median sale prices in Houston came in around $345K this spring, down about 2.8% year over year. Mortgage rates settled in the 6.37% to 6.5% range. Most homes are closing for 95% to 97% of list price.

Read that last number twice. It changes how to write an offer.

What buyers I work with are actually getting

Three things keep showing up in my Cypress and Katy contracts this quarter. Seller-paid closing costs. Repair credits after inspection. Rate buydowns funded by the seller, especially on builder inventory homes in Elyson, Bridgeland, and Sunterra. Six months ago I had to fight for any of those. Right now, sellers expect to negotiate.

That doesn't mean you should lowball. The homes priced well still move in under 30 days. The ones sitting are usually overpriced by 4% to 8%, and those sellers are the ones writing the biggest concession checks once they finally accept reality.

The new construction angle

Builders in Jordan Ranch, Harvest Green, and Rocky Creek Estates are running aggressive incentives. I'm seeing 4.99% rate buydowns, $20K toward closing, and free upgrades on standing inventory homes. Resale sellers down the street can't match that math, which is why so many of my first-time buyer clients have moved toward new builds this spring.

One catch worth knowing about. Builder lenders quote attractive rates, but the actual cost shows up in the price of the home and the title fees. Always run the builder's offer against an outside lender before you sign anything. Always.

What this means if your lease is up this summer

Rents in West Houston and Northwest Houston barely moved this year. A three-bedroom in 77095 still runs $2,100 to $2,400. The same house, bought at today's median price with 5% down and a seller-funded buydown, lands close to that payment once you factor the homestead exemption.

I'm not saying buying beats renting for everyone. Job stability matters. So does the cash you actually have versus the cash you'd need at closing. But the math is closer than it's been since 2022, and that's the conversation worth having with a lender before you re-sign a lease.

Where to start

If you're somewhere between curious and serious, get conditionally pre-approved first. That step alone tells you whether you're shopping at $320K or $420K, which decides whether Cypress new construction or a resale in Spring makes sense. Then we tour. Then we write smart.

Book a buyer consultation with Marysol Calvillo and we'll map out your timeline, your budget, and which Katy or Cypress communities fit the way you live. Bring questions. The good buyers always do.