The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index. 

Single-family home sales amounted to 95,113 in 2022, which is nearly an 11% decrease from the amount sold throughout 2021. That marks the first year of declining sales since 2015.

Geographically, the largest home-price increases took place in the Southeast, led by Florida (18%), South Carolina (13.9%) and Georgia (13.6%), CoreLogic reported, citing its November Home Price Insights report.    

Regionally, the pending-sales index fell 7.9% month over month in the Northeast, 6.6% in the Midwest, 2.3% in the South and 0.9% in the West. 

Houston ranked seventh overall, with TheCreditReview citing “overall residential financial health” across the Bayou City.

At the same time, the median sales price of a new house slid to $471,200 from $484,700 in October and $430,300 a year earlier, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported. 

The Houston Association of REALTORS® put out a report detailing the 10 most-expensive home listings across Texas this month.

The month-over-month decline in sales came as prices rose for the 129th consecutive month, the National Association of REALTORS® said. 

New-home permits fell 11.2% month over month, while housing completions jumped 10.8% in what one observer said could have “worrisome” long-term consequences for the nation’s housing supply. 

According to an analysis from real estate website Point2Homes, Houston renters do not make enough money to purchase starter homes.

The 30-year fixed-rate inched to 6.42%, which is still close to the lowest rate in a month, the group said. 

Condominium and townhome sales have stabilized in Texas, according to the Texas REALTORS® 2022 Texas Condominium Sales Report.

October’s 4.6% monthly drop follows a 10.2% decline in September, the National Association of REALTORS® reported. 

Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.   

New listings tend to dip into the negative territory around the holidays, as consumers are busy with preparations.