Last month, homebuyer demand showed its resilience, despite mortgage rates being at a 23-year high and inventory continuing to be limited.

Last month’s most expensive Houston home sales range from a grand estate in the heart of River Oaks to an opulent condominium in The Huntingdon high-rise.

Only 35% of Houston-area households could afford a median-priced home during the third quarter of the year. That’s the lowest housing affordability has been in Houston since 2012.

New listings skyrocketed in Houston during the week ended Nov. 6, according to the Weekly Activity Snapshot from the Houston Association of REALTORS®.

Houston saw the 19th straight month of negative home sales in October as high mortgage rates continued to sideline potential buyers.

In Houston, 47% of millennials moved out of their parental home in the past five years, with 19% still stuck at home.

A record number of homesellers are dropping their prices as buyers continue to feel the impact high mortgage rates are having on their wallets.

The agent with the most $1 million-plus listings was Laura Sweeney of COMPASS RE Texas, who accomplished a sales volume of over $71.8 million across 19 transactions.

Houston’s housing inventory was replenished by a healthy round of new listings during the week ended Oct. 30.

Home sales are heating up in several key Houston neighborhoods, according to HAR’s report of the Hottest Communities in the Houston Area.

Both new and active listings rose in Houston last month, according to the First Real Estate Snapshot of Houston from HAR.

Agents from Moreland Properties are responsible for the most expensive and second-most expensive new listings in the state of Texas.

Houston still has a ways to go in recovering from the Covid-19 pandemic, according to a report from the University of Toronto.

The median price of a new home sold during the month fell to $418,800 from $433,100 in August, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported. 

New listings continue to rise above 2022 levels in Houston, according to the Weekly Activity Snapshot from HAR.

Across the Lone Star State, closings were down 9.8% year over year, while the median price dropped 1.5% to $340,000.