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.

Home sales rebounded in April amid pre-pandemic inventory volumes, according to the latest Market Update from the Houston Association of REALTORS®.

Closings declined during the week ended April 29 in Houston as new listings maintained their stronghold over 2023 levels.

The average listing price for the Houston area increased to $448,541 last month, up from $431,684 in April 2023.

The area of Porter/New Caney West, located about 30 miles northeast of downtown Houston, saw the largest year-over-year increase in home sales in the first quarter.

“Realtors are working with buyers and hearing from lots of others who are considering buying,” said Jef Conn, chairman of Texas REALTORS®.

A majority of the most expensive new listings in Texas are located in the Dallas area.

Realtors entered 3,632 properties into the MLS during the week, a 25.6% increase over the same week in 2023.

Home sales declined 8.3% in Houston last month, with 7,163 closings — however, that was the third-highest sales volume in the country.

“The Texas spring homebuying season is underperforming as the new home sales recovery has been unimpressive,” said HomesUSA CEO Ben Caballero.