Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics. 

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.

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. 

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. 

At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100. 

Many Houston homes with multi-million dollar pricetags were sold during May.

The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row. 

The year 2021 set a record-high for California to Texas moves, with approximately 110,900 people relocating from The Golden State.

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

Lots of luxury homes have sold in the Lone Star State in the past month — the most expensive being a 16-bedroom mansion in the Crespi Estates subdivision in Dallas.

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales.