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.
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