Houston Market Movements - Week of Nov 27th

Home price appreciation is on the rise across most of the country, which is welcome news for homeowners that recall a time when it was not. Although trends vary by region and state, the overarching trend is increased prices, according to research performed by the National Association of REALTORS® on American Community Survey data from 2005 through 2016. Price growth is strongest in the South and less so in the Northeast, and only a few states show no growth or losses. Affordability is most favorable in the Midwest, and the West is least affordable, on average.

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In the Houston region, for the week ending November 19:

  • New Listings increased 1.8% to 2,182
  • Pending Sales increased 8.0% to 1,691
  • Closed Sales decreased 9.9% to 1,568

Source: Har.com

Houston Market Movements - Week of Nov 20th

During the final two months of the year, residential real estate traditionally slows down to make way for holiday shopping and travel. Assessing the dominant trend of 2017, most housing markets have seen the number of homes for sale decrease in year-over-year comparisons. So much so, that further decreases in 2018 will be newsworthy, as prices would likely keep rising in a seller's market. Presently, in a thriving economy with low unemployment, agents and consumers alike still have reason for optimism.

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In the Houston region, for the week ending November 12:

  • New Listings increased 5.9% to 2,302
  • Pending Sales increased 30.9% to 1,751
  • Closed Sales increased 7.4% to 1,241

Source: Har.com

Houston Market Movements - Week of Oct 30th

The level of national real estate activity should subside each week for the remainder of the year. Savvy real estate professionals are not only beginning to plan now for a successful 2018, but they continue to track the trends to see where prices, listings and other metrics are at relative to last year and all past years of available data. Finding reliable patterns in the trends is a sure way to be of greater service to buyers and sellers. Let's see where those trends are in our market.

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In the Houston region, for the week ending October 22:

  • New Listings increased 6.6% to 2,470
  • Pending Sales increased 32.0% to 1,934
  • Closed Sales decreased 0.7% to 1,429

Source: Har.com

Houston Market Movements - Week of Oct 9th

Few cities and neighborhoods around the nation are turning heads as hotFew cities and neighborhoods around the nation are turning heads as hotbeds of new housing inventory. Residential real estate markets that have had a hard time dealing with a reduction in the number of homes available for sale are now also struggling to keep up with new listings levels from last year. While it's true that builder confidence is up, it will take time before any sort of new development spawns a significant change in trend direction.

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In the Houston region, for the week ending October 1:

  • New Listings decreased 2.4% to 2,356
  • Pending Sales increased 25.0% to 1,939
  • Closed Sales decreased 11.4% to 1,972

Source: Har.com

Houston Market Movements - Week of Oct 2nd

Last year's national chorus was about how high buyer demand, a sunny economic outlook and enticingly low mortgage rates were propping up sales and prices in spite of low inventory. That refrain is still common enough, but regional changes continue to become more pronounced, whether due to weather, differing employment expectations or varying new construction outlooks. Let's look at how our unique local market is performing.

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In the Houston region, for the week ending September 24:

  • New Listings decreased 6.4% to 2,280
  • Pending Sales increased 18.5% to 1,886
  • Closed Sales increased 3.9% to 1,560

Source: Har.com

Houston Market Movements - Week of September 25th

According to the National Association of Home Builders, there is a rising demand in the new-home market spurred by ongoing job and economic growth, the continuation of attractive mortgage rates and increased consumer confidence. And there does appear to be a notable increase in building or announced building projects around the country. Builder confidence tends to equate with more construction starts, which would be welcome news in an era of low inventory.

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In the Houston region, for the week ending September 17:

  • New Listings decreased 2.6% to 2,446
  • Pending Sales increased 17.6% to 1,833
  • Closed Sales increased 10.4% to 1,906

Houston Market Movement - Week of September 11th

National real estate market trends have remained steady for the last couple of years, allowing the residential segment to flourish in terms of sales activity and buyer demand. Even when total sales are not measuring forward in year-over-year comparisons, it is evident that the market is responding positively to wider economic indicators. Higher prices, fewer days on market and lower months of supply are all usual indicators of healthy activity. As expected, we are beginning to see declines in new listings and sales as a result of Hurricane Harvey.

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In the Houston region, for the week ending September 3:

  • New Listings decreased 63.5% to 932
  • Pending Sales decreased 53.1% to 712
  • Closed Sales decreased 81.6% to 413

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