While existing home sales have recently been down, new home sales are picking up across the nation, which has coaxed an upward trend in building activity. Buyers are still showing a willingness to pay higher prices, and there are signs that many new homes being built are smaller starter homes, perfect for young adults entering the market.
In the Houston region, for the week ending August 21:
• New Listings increased 2.8% to 2,386
• Pending Sales increased 14.4% to 1,842
• Closed Sales decreased 0.9% to 1,866