Home sales nationwide have been brisk this summer, as the largest living generation in the U.S. (Millennials) enters the housing market in droves. Student loan debt is still a hindrance for many, but that has often been offset by continued low rates allowing for lower monthly mortgage payments. With rents on the rise, conditions for further sales are good, although, traditionally, the second half of summer is not as active as the first.
In the Houston region, for the week ending July 10:
• New Listings decreased 3.9% to 2,891
• Pending Sales increased 11.6% to 1,975
• Closed Sales decreased 27.0% to 1,186