At the outset of 2017, we are watching for upward movement in some key national housing measurements. Inventory remains a valuable metric, as this will be a key driver in increasing or decreasing prices, especially if mortgage rates continue to rise.
In the Houston region, for the week ending January 1:
- New Listings increased 5.3% to 1,258
- Pending Sales increased 27.6% to 1,050
- Closed Sales decreased 0.4% to 1,891