“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

Matching June’s historic move, the Federal Reserve announced that interest rates are rising .75%. The target range for the federal funds rate now sits between 2.25% and 2.5%.

“Housing data for May 2022 continued strong, as price gains decelerated slightly from very high levels,” Craig J. Lazzara, managing director at S&P DJI, said.

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

While Greater Houston’s luxury market saw its first decline in two years in June, there is no shortage of $1 million-plus homes in the metro. According to LendingTree, 2.4% of Houston homes are worth $1 million or more.

Texas-based builder Wan Bridge recently announced plans for its newest community, Enclave at Mason Creek, a gated build-to-rent community in Katy.

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Three Greater Houston ZIP codes are among the hottest for real estate in the country, according to a recent analysis by Opendoor.

Johnson Development has been named Developer of the Year for a second time in three years by the Texas Association of Builders during its annual Star Awards.

Robert Charles Lesser & Co. ranked Sunterra the eighth-best-selling master-planned community in the U.S., while Marvida secured No. 20.

Real Estate Consulting ranked the 50 top-selling master-planned communities during the first half of the year, and 13 Houston-area developments made the list. 

At the same time, the median existing-home price rose 13.4% year over year to $416,000. 

Phoenix-based Inspire Communities recently announced plans to expand its Houston presence with two new development projects, including the re-development of an existing manufactured home community on the shores of Trinity Bay.

Nationwide, sales hit their highest level of the year, rising 4.7% from June but falling 17.6% on a year-over-year basis, RE/MAX said. 

Located in Hockley, minutes away from the Clubs at Houston Oaks, Stallion Lakes will feature one- and two-story houses built on oversized lots ranging from 1.5 to more than 3.5 acres.

A recent StorageCafe housing trends report found that mid-sized cities in Arizona and Texas lead the U.S. for premier apartment living. Of the country’s 100 biggest cities, four in Texas, including Houston, made the list of the top 20 cities for high-end apartment living.