Current Market Data

Homebuying competition lessens in Houston. Could the market be losing steam?
Homebuying competition lessens in Houston. Could the market be losing steam?

The competitive homebuying market showed signs of loosening up last month as bidding wars dropped from May despite being higher than they were a year ago. 

Pandemic reshuffles homebuyers’ amenity priorities
Pandemic reshuffles homebuyers’ amenity priorities

Adjectives reflecting the desire for privacy and physical isolation gained a place of prominence: “private,” “covered,” “quiet,” “separate” and “enclosed” were among the top 100 most-used description terms.

How long would it take a renter to save up for a down payment in today’s market?
How long would it take a renter to save up for a down payment in today’s market?

It could take Houston-area renters more than seven years to save for a down payment in today’s market.

Median rental price hits highest point in two years
Median rental price hits highest point in two years

Houston rents jumped 4.3% year over year in May.

Will Gen Z be the mortgage generation?
Will Gen Z be the mortgage generation?

Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.

New listings growth seen across U.S. markets in June
New listings growth seen across U.S. markets in June

Housing markets across the country saw new listings growth in June, as the median list price hit yet another all-time high, and Houston was no exception. 

NAHB: Residential construction spending rises in May thanks to single-family sector
NAHB: Residential construction spending rises in May thanks to single-family sector

Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.

NAR: May pending-home sales jump unexpectedly
NAR: May pending-home sales jump unexpectedly

“May’s strong increase in transactions — following April’s decline, as well as a sudden erosion in home affordability — was indeed a surprise. The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3%, and from an uptick in listings.” — NAR chief economist Lawrence Yun

S&P CoreLogic Case-Shiller: Home-price gains “truly extraordinary” 
S&P CoreLogic Case-Shiller: Home-price gains “truly extraordinary” 

The 10-city composite index rose 1.9% on a monthly basis and 14.4% on a yearly basis, while the 20-city composite rose 2.1% monthly and 14.9% annually.    

Houston’s pending listings slide for the fourth week
Houston’s pending listings slide for the fourth week

New listings also lost their momentum during the week, lowering hopes that the limited supply of homes on the market would be replenished soon.

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