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Year over year, however, pending home sales were up 57.1%, the NAR said, citing its monthly Pending Home Sales Index.
New, pending and off-market listings are all down, while the number of closings climbs as Houston’s housing market continues to struggle to keep up with demand.
First-time homebuyers found their long-term plans changed due to COVID.
“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan
The national year-over-year gain is the highest recorded since December 2005, Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indexes, said in a press release.
With the eighth-lowest tax rate in the country, Texas attracts people from all over.
The limited inventory that has plagued the housing market continued, although at an abated pace.
An analysis of 10 years of home sales found the spring and summer months offer the most gains for sellers, particularly the month of May.
Whether they’re still weary of going to a gym full of people or just looking to work off those extra pandemic pounds in privacy, homebuyers are increasingly prioritizing home exercise rooms.
As Houston’s luxury home market stays red-hot, nine Houston buyer’s agents helped clients purchase the 10 most expensive homes in April priced up to $7,450,000.