Despite the decrease in borrowing costs, the Mortgage Bankers Association’s Market Composite Index showed a decrease in mortgage applications in the week ended Aug. 29. 

Homebuyers closed on 1,767 properties, up from 1,573 during the same week the year prior.

Despite a slowdown in single-family construction activity, newly built homes are becoming increasingly accessible to American buyers, in terms of both availability and affordability. According to data from the New-Construction Insights report released by Realtor.com, in the second quarter

Signed contracts declined despite lower interest rates and improved affordability and inventory, the National Association of REALTORS® said.   

Dallas agent Michelle Wood of Compass RE Texas is responsible for listing two of the 10 most expensive new listings in the Lone Star State.

Most of the Bayou City’s new apartments — over 7,700 — are located in Houston proper, followed by Cypress at 1,343 units and Spring at 1,109.

The upside surprise came despite monthly and yearly declines in the pace of sales. 

Homebuyers purchased 1,815 properties during the week, up from 1,590 during the same week in 2024.

The typical $1,500 apartment in Houston is about 972 square feet — over 200 square feet bigger than the national average, according to RentCafe.

Nationally, home sales rose 0.6% year over year but slid 0.7% month over month, RE/MAX said. 

The association said the housing market is making a definitive swing back in the direction of the buyer thanks to wage growth, slowing home-price gains and rising inventory. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

International transactions increased 9% year over year, with 7,500 purchases made by foreign homebuyers.

Compass agent Laura Sweeney listed the top three most expensive homes sold in greater Houston last month, plus two other homes in the top 10.

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

Both pending and closed listings increased annually during the week ended Aug. 11, according to the Weekly Activity Snapshot from the Houston Association of REALTORS®.