Income levels and mortgage rates gave homebuyers in June 129% more house-buying power than they had in 2006, according to First American Financial Corp.’s June Real House Price Index.

Housing starts, existing-home sales and housing inventory were all down in Houston during August. But days on the market also fell.

Homebuyers in the Houston area should brace themselves amid expectations that the residential real estate market could jump 14.1% next year.

Even as the real estate market is showing signs of cooling and more sellers are dropping asking prices, median home prices increased by double digits from last year.

Also during the month, the median sales price rose to $390,500 from $370,200 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

You might be surprised by the results of this survey.

New listings lost some momentum as families turned their attention to sending kids back to school according to Houston Association of Realtors.

“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi

Following months of sky-high prices paired with manic competition — driven by limited supply — the frenetic housing market is starting to cool down. Somewhat.

Homes priced from $750,000 and above led the way in sales volume in July with a 36.7% year-over-year increase. Most of the homes are located in River Oaks, Memorial Villages and The Woodlands.

Smaller, more affordable homes are hitting the market, helping moderate median list prices, according to Realtor.com.

Houston home listings held to positive territory on a year-over-year basis for a third consecutive week in the week ended Aug. 9, and the listing volume continues to gain ground from earlier this year, according to a Houston Association of Realtors report.

For the first time since early March, no new records were set for median-home-sale prices last month, ending the five-month streak of record-breaking home prices.

Texas Realtors releases report chronicling the real estate market’s growth over the past decade.

Just 56.6% of homes sold during the quarter were affordable to families earning the U.S. median income of $79,900, according to the National Association of Homebuilders/Wells Fargo Housing Opportunity Index.

Affordability declined in 49 of the 50 major markets according to the May 2021 First American Real House Price Index.