Real estate news in Houston
The median existing-home price for all housing types rose to $350,300 in May, marking another new record.
The annexed acreage will add about 1,400 homes to the master-planned community, as well as new amenities. Sales are expected to start in the fall of 2022.
Inventory levels rebounded last month, finally showing signs of recovery following a year of historical declines.
The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, but month-over-month sales in Houston bucked the trend, climbing 1.3%, according to the RE/MAX May National Housing Report.
The new development is expected to begin home sales next year and will have about 2,300 homesites.
HAR’s weekly activity snapshot shows that for the second consecutive week, new listings continued to rise, helping alleviate some of the pressure on dwindling inventory.
The share of homes underwater in the metro Houston area was at 1.6% at the end of the first quarter of 2021, below the national rate of 2.6%, according to CoreLogic.
Experts at Builder Magazine recently came out with their Local Leaders list for 2020, which ranks the country’s 50 largest new-home markets based on closings by the end of the year.
Some cities fared better than others with the global pandemic and Houston is one of them, according to The Economist’s 2021 Livability Index’s ranking of the most livable cities in the world.
“We are providing our clients in Texas the chance to own international property that is walking distance from the beach, in a budding city with potential of significant return on investment.” – Derek Boles, broker/owner of Legacy Homes and Properties.