A year ago, the average listing price in Houston was $441,748. In May 2024, it increased to $456,026.

Two of the 10 most expensive new listings in Texas are listed by Chad Barrett, an agent with Allie Beth Allman & Associates.

Realtors entered 3,310 new listings into the MLS during the week, a 19.1% increase over the same week in 2023, when 2,780 properties were added to the market.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

In Houston, the Astrodome area is the most expensive: residents pay 46.88% of their yearly home payments in extra property fees.

At the same time, the median price of a new home sold in April declined as well. 

Realtors entered 3,543 properties into the MLS during the week, a 12% increase over the same week in 2023, when 3,164 new listings joined the market.

Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a Redfin report. 

Realtors added 3,574 properties into the MLS during the week ended May 13, a 23.7% increase year over year.

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Leases of SFRs increased 3.8% year over year, with 3,762 units leased during the month.

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

Only 40% of households in the Houston area could afford a median-priced home in the first quarter.

The priciest home sold in greater Houston last month is a 7,258-square-foot new build in the Southside area.

So far this year, Texas’s in-to-out move ratio is up 17% year over year, meaning far more new residents are moving in than moving out of the Lone Star State.

Realtors entered 3,736 properties into the MLS during the week ended May 6. That’s a 16.1% increase year over year.