Closings are also down by 18.6% year over year, with 1,717 homes sold during the week versus 2,110 a year ago.

As more owners continue to hang onto their houses, home values locally and across the nation have reached a new peak, but it comes at a cost.

According to HAR’s June 2023 Market Update, single-family home sales were down 12.8% year over year but up 3.9% from June 2019 (pre-pandemic).

The typical apartment is leased in 43 days in Houston — a year ago, apartments were leased within 38 days.

Despite the declining rate of increase, home prices have risen for the last 136 months, CoreLogic said. 

It takes the average Houstonian eight years to save up for a 10% down payment on a home, according to a recent Axios analysis.

New listings and pending listings have surpassed 2022 volumes for the first time in weeks, according to HAR.

For the first time in almost 12 months, the average U.S. home is selling above its asking price, as the average sale-to-list price ratio hit 100.1% earlier this month

With 13,885 properties entered into the Multiple Listing Service during June, new listings are down 8.9% year over year.

Texas had an average price per square foot of $189. 

These are the most expensive new listings added to Texas Multiple Listing Services in the past 31 days, as well as the listing agents behind the properties.

Transactions that do go through are typically seeing multiple offers, NAR Chief Economist Lawrence Yun said. 

Data showed that residents in 17 states — mostly on the West Coast — are especially interested in moving to Texas.

A third consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index lends new evidence to claims that previous declines could be behind the market. 

Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market. 

Renters looking for affordably priced apartments in thriving communities have a lot of options in Texas.