Activity is on the rise in the Texas luxury real estate market as lower-priced housing inventory struggles to keep up with the relentless demand of prospective buyers.

When you consider entertainment, recreation, nightlife, parties and overall costs, it turns out, Texas is a pretty fun state! And that has a positive effect on Houston real estate.

Houston’s new-home sales defied inventory challenges and rose for the fourth straight month in May. New homes sold faster and at a higher average price than the previous month, according to HomesUSA.com.

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 

Houston was fourth on the list with 844 iBuyer home sales in the first quarter, accounting for 3.5% of home sales in the market.

Houston-area buyers who finance a Coventry home through the builder’s preferred lender between June 17-30 can choose from three options to alleviate concerns over rising home prices and interest rates.

The number of homes for sale in May rose 16.3% month over month and 2.2% year over year. Months’ supply of inventory rose to 0.9 from 0.8 in April and fell from 1 in May 2021. 

Megatel Homes has broken ground on Saint Tropez, a 4,500-lot residential lagoon community spanning over 1,000 acres in Houston.

Texas registered the third-highest number of foreclosure starts last month, according to a new ATTOM market report.

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

The Federal Reserve raised interest rates by .75% today: the sharpest increase since 1994. How will that affect real estate?

As part of the agreement, Sekisui House will acquire Chesmar Homes, CLM Mortgage, Inc., Entitled Insurance, Inc. and N Title, Inc.

Two major real estate firms are cutting their workforces amid a cooling housing market. Compass and Redfin are laying off 10% and 8% of their current staffs, respectively.

Lumber prices, once emblematic of widespread supply-chain woes, are finally beginning to fall. How will this affect the housing market?

Last month, the median price for a one-bedroom rental in Texas was $1,114. According to a Zumper report, the average monthly cost of a one-bedroom rental in Sugar Land was $1,250.

The purchase marks the San Francisco-based company’s 26th acquisition in Texas, according to a press release.