New Houston listings gained momentum in suburban and rural areas in November while remaining sluggish in urban areas, according to the Houston Association of Realtors (HAR) Multiple Listing Service (MLS).

“Motivated by fast-rising rents and the anticipated increase in mortgage rates, consumers that are on strong financial footing are signing contracts to purchase a home sooner rather than later.” — NAR chief economist Lawrence Yun

While the housing market may be hotter than usual, the shift toward seasonal norms is starting to show and could benefit both buyers and renters. 

As the economy recovers from COVID and the housing market gains traction, homeownership is top of mind for Americans, according to the latest survey from Coldwell Banker Real Estate LLC.

The seasonally adjusted estimate of new houses for sale at the end of September was 389,000, representing a supply of 6.3 months at the current sales rate, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

The U.S. housing market kept firing on all cylinders, as the demand for residential real estate drove prices higher for the 116th month in a row, marking the longest streak on record.

While Houston became home to nearly 600,000 new residents between 2014 and 2018, thousands of Houstonians left the city, too — but the majority didn’t go far, according to a new Stacker report.

It’s been a crazy year for real estate with bidding wars, record home prices and historically low inventory, but that may all come to an end in 2022.

Among the 51 metro areas surveyed in October, closed transactions were down 6.4% from September, nearly twice the average pre-pandemic decline of 3.3% between 2015 and 2019, RE/MAX said, citing its National Housing Report.

November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

Houston experienced cooling in more than just the outdoor temperatures in October, according to the Houston Association of Realtors (HAR) October 2021 Market Update. 

Housing observers noted that demand for housing remains robust despite the lack of new supply.

Should you wait until spring to put your home on the market? A recent Realtor.com report says, not necessarily.

According to real estate data provider ATTOM, foreclosure filings, which include default notices, scheduled auctions or bank repossessions, rose 5% in October on a monthly basis and 76% from October 2020, to 20,587 filings.

Seventy-eight percent of the 183 U.S. markets monitored by the National Association of Realtors had double-digit increases in their median home prices, a decline from the second quarter, when 94% of markets saw double-digit increases.

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan