According to the National Association of Home Builders, there is a rising demand in the new-home market spurred by ongoing job and economic growth, the continuation of attractive mortgage rates and increased consumer confidence. And there does appear to be a notable increase in building or announced building projects around the country. Builder confidence tends to equate with more construction starts, which would be welcome news in an era of low inventory.
In the Houston region, for the week ending September 17:
- New Listings decreased 2.6% to 2,446
- Pending Sales increased 17.6% to 1,833
- Closed Sales increased 10.4% to 1,906