The increase was driven by refinancing activity as purchase applications dipped. 

May brought a flurry of activity to the Houston market as new-home sales surged to 2,169, up from 1,958 the month prior, according to the latest data from HomesUSA.com.

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The 3.8% month-over-month gain was almost four times what industry observers were expecting. 

May’s priciest Houston-area home sale was a $10.5 million estate built just last year.

Inventory rose 3.3% month over month and 0.6% year over year to 1.55 million homes, which equals a 4.5-month supply of unsold inventory, NAR said. 

Nationwide, it takes six years to break even on homeownership, down from an all-time high of 8.4 years in 2023.

Amid what Realtor.com called the most active spring in years, the housing market is finding a new equilibrium.

Looking ahead, Cotality expects home prices to rise 5.3% between April 2026 and April 2027. 

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The median sales price of new homes sold in April rose 8% to $422,500 from $391,100 in March, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

All but one of the most expensive new listings in Texas in May were located in the Dallas-Fort Worth area.

Home prices continued to rise in March, but the rate of increase slowed yet again, according to the latest S&P Cotality Case-Shiller Home Price Index. 

Redfin reports there were about 46.5% more sellers than buyers in April 2026, down from 47.5% in March and 48.9% in December 2025.

Despite a monthly decline, the rate of new-home construction still came in above consensus estimates. 

Among the top 50 metro areas, Boston and Miami led the pack.