The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

Real estate economist Matthew Gardner joins Agent Publishing Co-Publisher Anne Hartnett to unpack the biggest housing trends from the second quarter, plus the potential impact of a new Fed chair and the future of Fannie Mae and Freddie Mac.

At the same time, the pace of existing-home sales declined from May’s level. 

Statewide, the median home price decreased 1.4% year over year to $340,000. Amid that increased affordability, closed home sales also increased 1.4% year over year with 95,264 closings.

Nationally, home sales rose 5.7% year over year and 1.3% month over month, RE/MAX said. 

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

Purchase applications slowed to their lowest level since May as economic worries dampened activity, the Mortgage Bankers Association said. 

West University Place and Bellaire ranked among the nation’s top suburbs based on median household income, home values and other economic indicators.

All homes were sold during the month of June. Note that listing prices may differ from actual sales prices.

The number of single-family homes on the market increased 31.8% year over year, with 38,713 available properties for sale — the highest amount the association has ever recorded.

The Steamboat Group Real Estate analyzed home ages in every state across the country and found that in Texas, 22.5% of all homes were built in the last 15 years.

Realtors added 4,246 properties to the MLS during the week, a 21% increase year over year. Meanwhile, closings increased 3.5% year over year, with 1,783 home sales.

Boutique brokerages are prominently featured on this month’s ranking of the 10 most expensive new listings in the Lone Star State.

May’s 1.8% monthly gain follows a 6.3% drop in April, the National Association of REALTORS® said. 

Sales increased by 6.9% month over month, with 2,342 new-homes sold in May, up from 2,191 in April. That was also up 11.9% year over year, from 2,091 in May 2024.

That increase was accompanied by a year-over-year inventory boost as new SFR listings jumped 17.1%.