Current Market Data

Mortgage payments up 46.4% in Houston, as housing affordability hits 15-year low

Houston mortgage payments have grown 46.4%, as housing affordability hits a 15-year low, according to a new report.  Zillow’s latest market report found rising mortgage costs, along with skyrocketing prices and interest rates have made mortgages less affordable than

Surprise surge in new-home sales in May as median price falls 

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Houston new-home prices hit record high in May

Houston’s new-home sales defied inventory challenges and rose for the fourth straight month in May. New homes sold faster and at a higher average price than the previous month, according to HomesUSA.com.

Median existing-home price tops $400,000 for first time in May 

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 

Houston No. 4 nationally for iBuyer service home sales

Houston was fourth on the list with 844 iBuyer home sales in the first quarter, accounting for 3.5% of home sales in the market.

Housing demand expected to return to pre-pandemic levels

Realtor.com’s updated 2022 forecast sees housing demand returning to pre-pandemic levels.

RE/MAX: Home sales fall 8.5% year over year in May

The number of homes for sale in May rose 16.3% month over month and 2.2% year over year. Months’ supply of inventory rose to 0.9 from 0.8 in April and fell from 1 in May 2021. 

Housing starts plunge in May amid uncertain economic conditions 

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

Mortgage lending plummets in first quarter of 2022

Mortgage lending took a nose dive across the U.S. in the first quarter of 2022

Flattening homebuyer budgets indicate price growth will begin to slow

Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months. 

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