At the same time, the median existing-home price for all housing types in May was up 23.4% on an annual basis, as every region in the country registered price increases.

Meanwhile, the seasonally adjusted purchase index declined 6% from the previous week, the Mortgage Bankers Association reported.

Privately owned housing units authorized by building permits in June came in at a seasonally adjusted annual rate of
1,598,000, down 5.1 % from the revised May rate of 1,683,000, but 23.3% above the year-ago rate of 1,296,000.

July’s reading of 80 was down one point from June, but still signaled strong demand for housing, the National Association of Home Builders said.

The new community, deemed Evergreen, will span 740 acres and eventually accommodate 2,000 homes. The builder has dedicated 100 acres of the community to natural areas and green spaces, including an amenitized creek. 

During the four-week period ended July 11, the average weekly share of homes for sale with a price drop passed 4% for the first time since September 2020.

HBJ honored dozens of real estate teams and agents who came up on top in sales volumes and transactions over the past year.

The Houston market saw its 13th consecutive month of sales growth, although the pace slowed. 

Meanwhile, the Mortgage Bankers Association’s seasonally adjusted purchase index rose 8% from the previous week.

The competitive homebuying market showed signs of loosening up last month as bidding wars dropped from May despite being higher than they were a year ago. 

There’s a new boutique master-planned community coming to town! Potential buyers can join a waitlist to secure first dibs on a new home, priced from the low $300,000s. 

Adjectives reflecting the desire for privacy and physical isolation gained a place of prominence: “private,” “covered,” “quiet,” “separate” and “enclosed” were among the top 100 most-used description terms.

Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.

The Enclave at Cypress Park Apartments and Paramount Apartments will be combined and rebranded as The Place at Barker Cypress. 

It could take Houston-area renters more than seven years to save for a down payment in today’s market.

This passive-solar structure will have its new owner giving a high-five to Mother Earth, due to the structure’s energy-efficient design.