New-home sales increased in all four of the largest Texas markets last month as prices trended lower — and that’s good news for buyers, according to the latest New Home Sales Report from HomesUSA CEO Ben Caballero.

In Houston, 1,933 new-homes were sold in December, up from 1,838 in November. Pending sales were statistically flat. Meanwhile, the average new-home price dropped statewide, although the Houston new-home price increased slightly from $399,947 to $402,971

“Texas new-home sales finished the year strong,” Caballero said in the report. “In December, we also had good news for buyers as average new-home prices continue to trend a bit lower. With leading economists expecting mortgage rates to improve, the outlook for 2024 is brightening for builders and consumers alike.

“I expect that Texas will continue to lead the nation in 2024 because it is an attractive relocation destination for large companies with a ready labor pool,” Caballero added. “More jobs mean more housing, and Texas builders will continue to work diligently to create more inventory.”