Despite the slowdown, however, U.S. housing prices remain significantly higher than they were a year ago. 

“We are excited to expand our footprint in the Cypress community with the development of this luxury community joining our Houston portfolio,” said John Foresi, CEO of Venterra Realty.

The only other time the market saw such change was at the beginning of the pandemic. 

Month over month in September, existing-home sales slid 1.5% to 4.71 million, which is 23.8% lower than the year before. 

Houston developer Canterbury Development has announced plans to break ground on a sixth apartment complex for people ages 55 and up.

Nationwide residential real estate brokerage Douglas Elliman Realty has announced the opening of a second office in Houston.

New home construction missed analyst estimates in September, falling 8.1% month over month to an annual rate 1,439,000 homes, according to government statistics. 

Many luxury home sales were closed in September, the most expensive being a 12,907-square-foot mansion on W. Friar Tuck Lane that sold for $7,990,000.

After 250 days on the market, Houston lawyer Tony Buzbee’s home’s listing price has been cut 27.7% to $20 million.

Mortgage rates rose to 6.9%, the highest they’ve been since April 2002.

First-time homebuyers now make up 45% of current homebuyers, according to Zillow. The numbers represent a rebound from the lows of the pandemic.

The Houston Association of REALTORS® was featured on the game show Jeopardy! this week. The episode, which aired Oct. 11, included a Daily Double that referenced HAR’s decision to eliminate the term “master bedroom” from listings.

The new franchise will be the brokerage’s 16th in Europe as it pursues other expansion opportunities around the world. 

The developers currently have 19 active communities — 15 of them in the Houston area — many of which contain open lots that will roll out to builders beginning in October and extending through the end of the year.

The former chairman and CEO of the homebuilder died of Parkinson’s disease at 81. 

Landmark Properties broke ground on a build-to-rent community in the Houston suburb of Spring. The development is expected to be completed in 2024 and is part of a Landmark partnership with Principal Real Estate Investors.