Current Market Data
The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000.
The inventory of unsold homes increased in April, while the median existing-home sales price rose, according to the National Association of REALTORS®.
“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence Yun
The release of the monthly survey from the National Association of Home Builders comes as the Biden Administration unveiled a housing-supply action plan that aims to boost the supply of affordable apartments and new homes.
Despite the drop in demand, homes are selling faster than ever.
A new report by the Tax Foundation ranks Texas No. 14 in the country when it comes to business tax climate.
Despite Houston real estate’s robust performance last month, sales volume in April failed to keep up with the previous year’s historic pace.
Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications.
Homes are selling at record-breaking speed.
Seventy percent of the 185 metros surveyed by the National Association of REALTORS® saw double-digit price gains in the first quarter, compared to 66% in the preceding period.