Houston Market Movements - Week of August 21st

New listings and sales were up nationally. The prevailing trends have remained consistent throughout the summer, which is no real surprise. There have not been any jolting changes in the economy that would affect residential real estate. This includes steady news for factors such as wage growth, unemployment, new construction and mortgage rates. Every locality has its unique challenges, but housing as a whole is performing as expected.

Pending Sales:

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In the Houston region, for the week ending August 13:

  • New Listings increased 8.1% to 2,956
  • Pending Sales increased 17.5% to 2,005
  • Closed Sales decreased 4.0% to 1,560

Source: Har.com

Houston Market Movements - Week of August 14th

New listings and sales performed well across the country last week. As we reach into August, we'll begin to see the volume of activity wane in anticipation of the school year. Although not every buyer or seller has children, it's no secret that homeownership is a popular housing option for those with kids. In bulk, this has historically been enough of a factor for turning down the summer's market heat before lower temperatures take hold.

In the Houston region, for the week ending August 6:

  • New Listings increased 5.7% to 3,202
  • Pending Sales increased 18.8% to 2,043
  • Closed Sales increased 18.3% to 1,911

Source: Har.com

Houston Market Movements - Week of August 7th

A favorable economy has kept buyers active amidst a summer of stiff competition that has often pulled prices above asking price. The latest recorded national unemployment rate of 4.3 is historically low and has served as a general indicator of a strong economy. If wage growth shifts into overdrive from its current state of patient increases, we may see even higher prices or, conversely, more willingness by sellers to increase the inventory pool.

In the Houston region, for the week ending July 30:

  • New Listings increased 12.0% to 3,097
  • Pending Sales increased 16.6% to 2,096
  • Closed Sales decreased 17.6% 2,055

Source: Har.com

Houston Market Movements - Week of July 31st

Residential real estate activity nationwide has remained robust throughout the summer months so far. New listing and sales activity may not always land exactly where desired or expected from week to week, but it is clear by gradually increasing prices and ongoing low inventory that buyer demand has not weakened.

In the Houston region, for the week ending July 23:

  • New Listings increased 10.8% to 3,250
  • Pending Sales increased 10.9% to 2,111
  • Closed Sales increased 2.6% 1,841

Source: Har.com

Houston Market Movements - Week of July 24th

The primary selling season tends to begin slowing around the country at this time of year. That does not necessarily equate to less competition for available housing stock. While total sales and inventory may be lower than earlier in the year, those still looking for homes tend to match up with those willing to list. Call it a back-to-school effect or call it an active and healthy residential real estate market, no matter the season.

In the Houston region, for the week ending July 16:

  • New Listings increased 4.2% to 3,357
  • Pending Sales increased 15.6% to 2,184
  • Closed Sales decreased 2.4% 1,765

Source: Har.com

Houston Market Movements - Week of July 17th

From a heart-of-summer perspective, the residential real estate market has performed as expected when predictions were made at the front of the year. Total sales and new listings are generally behind last year's levels from week to week, but there is evidence of improvement in both metrics.

In the Houston region, for the week ending July 9:

  • New Listings increased 3.1% to 3,012
  • Pending Sales increased 7.4% to 1,853
  • Closed Sales decreased 2.6% to 1,215

Source: Har.com

Houston Market Movements - Week of July 10th

Across the country, economic conditions affecting residential real estate have not changed much this year, which is good for market stability. The most recent jobs report was favorable, while unemployment and mortgage rates both remain satisfyingly reasonable. If there were more homes for sale, we might see a shift in prices. Although builder and seller confidence are high, we are not close to a trend change in that regard.

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  • New Listings increased 1.7% to 3,219
  • Pending Sales increased 17.5% to 2,187
  • Closed Sales remained flat at 2,741

Source: HAR.com

Houston Market Movements - Week of May 1st

Across the U.S., now is a lucrative time to sell a home, and it would appear that it will remain that way for the time being. Houses that show well and are priced correctly have been selling quickly, often at higher prices than asking. Thus far, buyers are proving to be resilient in 2017, keeping the home purchasing momentum up even amidst the mounting competition that comes with the annual spring market.

  • New Listings increased 39.2% to 3,230
  • Pending Sales increased 29.7% to 2,256
  • Closed Sales increased 13.8% to 1,628

Source: Har

Houston Market Movements - Week of April 25th

In light of the low inventory and affordability situation this year, it was a good surprise to see existing home sales hit a national 10-year high. It isn't a surprise, however, to see multiple offers on a home within a few days of being on the market. Buyer demand is high and will continue to be for the foreseeable future, so it was also welcome news that builder confidence and housing starts were up as well.

NEW LISTINGS:

In the Houston region, for the week ending April 16:

  • New Listings decreased 6.8% to 2,718
  • Pending Sales increased 6.6% to 2,108
  • Closed Sales decreased 4.6% to 1,523

Source: HAR

Houston Market Movements - Week of April 3rd

National housing affordability has clearly become an issue for some buyers during the first quarter of 2017, as prices continue to rise amidst strong demand. Even so, pending sales figures have generally remained positive across the nation. A better balance between high-price inventory and starter homes being sold would be the most beneficial situation for the marketplace.

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  • New Listings increased 21.0% to 2,953
  • Pending Sales increased 28.4% to 2,223
  • Closed Sales increased 1.6% to 1,457

Source: Har