Most housing markets across the nation have hit full recovery and are even approaching or achieving categorical highs in sales and prices, yet builders are still focusing on higher-end homes over starter homes in order to combat high land and building permit costs. Until there is more entry-level inventory on the market, sustainable balance will be difficult.
In the Houston region, for the week ending August 7:
• New Listings increased 5.3% to 3,006
• Pending Sales increased 7.5% to 1,963
• Closed Sales increased 0.7% to 1,539