In light of the low inventory and affordability situation this year, it was a good surprise to see existing home sales hit a national 10-year high. It isn't a surprise, however, to see multiple offers on a home within a few days of being on the market. Buyer demand is high and will continue to be for the foreseeable future, so it was also welcome news that builder confidence and housing starts were up as well.
In the Houston region, for the week ending April 16:
- New Listings decreased 6.8% to 2,718
- Pending Sales increased 6.6% to 2,108
- Closed Sales decreased 4.6% to 1,523