A new report shows the market cooled in August, at least in terms of the number of prospective buyers looking at homes.

The 10-city composite index rose 1.4% on a monthly basis and 19.1% on a yearly basis, while the 20-city composite gained 1.5% monthly and 19.9% annually. 

The Low-Income First Time Homebuyers Act (LIFT) establishes a program to sponsor 20-year mortgages that would build equity at twice the rate of a conventional 30-year mortgage.

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

Houston’s inventory of new listings continues to spiral downward from previous weeks, dropping 20.1% from a year ago, according to data from HAR.

Last year’s en-masse move to remote work has driven what Zillow has dubbed the Great Reshuffling, as homeowners working from home have paused and reevaluated where and how they live.

The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.

September’s reading of 76 was up one point from August, despite lingering challenges with labor and the building-material supply chain, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

Month over month, home sales were down 3.5%, and the median sale price declined 1.2% to $335,000.

According to Realtor.com’s Best Time to Buy Report, between Sept 12 and Oct. 17 is the best time to sell a home in most markets, but what about in Houston?

The Justice Department’s original complaint against the National Association of Realtors, filed Nov. 19, 2020, alleges that the association enforced rules and policies that illegally hampered competition in residential real estate services.

“The net result for housing is that these low and stable rates allow consumers more time to find the homes they are looking to purchase,” Freddie Mac Chief Economist Sam Khater said.

The master-planned community of Dellrose in Hockley, TX is set to release the first of 277 new homesites, raising the total of developed Dellrose lots to more than 1,000.

Texas had the second-most foreclosure starts in the nation during August 2021, according to new data from ATTOM’s U.S. Foreclosure Market Report.

A decline in new home listings has had little impact on the market as far as demand is concerned, according to a recent Redfin report.

Legend Communities is planning The Residencies at Tiki Island: a luxury waterfront complex near Galveston. Now NAN Properties Developer Services has joined as the exclusive listing agent.