Houston’s housing supply challenges were no match for new-home sales last month, according to the latest monthly report from HomesUSA.
The three-month moving average of Houston new-home sales shows sales listed in the Multiple Listing Service (MLS) in April increased month over month from 1,635 to 1,775.
However, the three-month moving average shows active listings falling to 7,208 from March’s 7,426 due to limited inventory.
The report, which includes findings for Houston, Dallas-Fort Worth, Austin and San Antonio, is based on data from the Houston Association of REALTORS®, North Texas Real Estate Information Systems, Austin Board of REALTORS® and San Antonio Board of REALTORS®.
The report also revealed that homes stayed on the market slightly longer and sold at higher-than-average prices in April. Last month’s three-month moving average of new-home sales prices was $414,058 versus March’s $410,124, an 11% year-over-year increase.
“Builders are increasing production, but the Houston new-homes market’s resilience is challenging their efforts to meet the demand,” said Ben Caballero, CEO of HomesUSA.com. “Sales were up locally last month as builders see unrelenting demand.”