Greater Houston saw the most significant increase in the U.S. for year-over-year home sales in February, according to the latest RE/MAX National Housing Report. Home sales were up nearly 21% from the same month in 2021. 

The median existing-home price for all housing types in February was $357,300, up 15% from a year before, as median prices rose in each region.    

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

Texas-based developer Legend Communities has officially opened an on-site sales gallery for The Residences at Tiki Island, a waterfront resort near Galveston.  

A penthouse in the acclaimed Astoria high-rise recently sold for $6.9 million, marking the second-priciest penthouse sold in Houston, according to the Houston Association of REALTORS® Multiple Listing Service. 

Realtors entered 2,492 properties into the Multiple Listing Service (MLS) in week 10, a 9.6% drop from the same week in 2021, according to the Houston Association of REALTORS® weekly activity snapshot.

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

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.