Last year's national chorus was about how high buyer demand, a sunny economic outlook and enticingly low mortgage rates were propping up sales and prices in spite of low inventory. That refrain is still common enough, but regional changes continue to become more pronounced, whether due to weather, differing employment expectations or varying new construction outlooks. Let's look at how our unique local market is performing.
In the Houston region, for the week ending September 24:
- New Listings decreased 6.4% to 2,280
- Pending Sales increased 18.5% to 1,886
- Closed Sales increased 3.9% to 1,560