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Agents from Compass RE Texas were responsible for listing six — and selling four — of the 10 most expensive homes sold in greater Houston last month.
For its inaugural Texas Homebuying Experience Report, the association surveyed Texas Realtors about their experiences with buyer clients during the first six months of the year.
The pace of home sales, meanwhile, remained at “multi-decade lows” even as affordability reached its most favorable level since 2022.
The priciest new listing in Texas this past month is a $22 million estate that spans 14,341 square feet — that’s over $1,500 per square foot.
Searches for “fixer-upper” on Realtor.com in July 2025 have more than tripled in volume compared to four years ago.
The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022.
Fannie Mae also reduced its forecasts for home sales in 2025 and 2026.
The decline in sales came as a 17-month run of year-over-year increases in new listings came to a close.
The move was widely anticipated and is expected to be followed by additional cuts this year.
The jump in mortgage activity was driven in large part by refinancings, which surged 58% in the week ended Sept. 12.
At the same time, completions of new single-family homes were on the rise last month, according to federal statistics.
The National Association of Home Builders said its monthly builder-confidence survey indicated rising optimism that lower interest rates could spur new-home buying activity.
Nancy Almodovar, founder and CEO of Nan and Company Properties, worked as both the listing and buying agent for August’s most expensive greater Houston home sale.
The surge comes as the rate on a 30-year fixed-rate mortgage fell to its lowest level since October 2024.
The rate of home-price appreciation slowed to just over half the rate of inflation in July, Cotality noted.
Despite the decrease in borrowing costs, the Mortgage Bankers Association’s Market Composite Index showed a decrease in mortgage applications in the week ended Aug. 29.