The Federal Reserve announced today that it would increase the federal funds rate by 0.25%, its first increase in more than three years, with more hikes projected for the remainder of the year.

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

Houston’s luxury market (homes priced above $1 million) saw higher-than-normal activity in February, with 33.5% more sales than during the same month in 2021. The most-expensive home sold in Houston last month was an 11,108-square-foot single-family home in the River Oaks Tall Timbers subdivision.

The Woodlands has claimed the No. 1 spot on Niche’s 2022 Best Cities to Live In America list. The Houston suburb beat out 227 other cities to secure first place and an overall rating of A+.

Coventry Homes recently expanded its model home portfolio with new models opening in Escondido and The Highlands.

The company has named Paul Hurst its chief innovation officer, a new role that reports directly to CEO Ken DeGiorgio.

Of the homes that went under contract during the four weeks ended March 6, 58% had an accepted offer within the first two weeks of going on the market, and 45% had an accepted offer within just one week, Redfin reported.

Paul Ratha Yem is a Massachusetts real estate broker and former Cambodian refugee who sees parallels between his story and the women and children escaping war-torn Ukraine.

The Houston mansion once owned by the late Baron Ricky di Portanova and Baroness Alessandra di Portanova has been sold for $16 million.

Amid growing concerns regarding the lack of affordable housing across the nation, one master-planned community in Houston aims to provide a safe place to call home for families in the area.

Foreign buyers accounted for less than 2% of U.S. residential real estate transactions last year, and Russian buyers accounted for less than 1% of those, the National Association of REALTORS® reported. 

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

Despite the slight uptick in new listings from last week, Houston’s numbers during the first week of March remained statistically flat compared to the same week in 2021. 

According to the Houston Association of REALTORS® February 2022 Market Update, single-family home sales totaled 7,372 last month, a 22.9% jump from the previous year. 

Currently, median rents in Houston stand at $1,012 for a one-bedroom apartment and $1,204 for a two-bedroom. Houston’s median two-bedroom rent is below the national average of $1,294, an Apartment List report noted.

This year marks the 25th year of new home sales for Sienna, which was ranked among the nation’s top-selling master-planned communities in January.