In April, CultureMap reported that Houston was in the midst of a home “buying bonanza,” with April showing the tenth straight positive month of s
6/09/2021 01:35:00 PM
I m tracking sales for many local markets. Note that sales slumped at the beginning of the pandemic, so the year-over-year increase in sales is crazy.
Houston area home sales set new records in May as consumers took advantage of historically low interest rates in snapping up an ever-dwindling supply of properties for sale. What resulted was a nearly 50 percent jump in sales volume compared to the same month last year, when real estate was still in the process of recovering from coronavirus-related lockdown orders. Limited supply, strong buyer demand and increased construction costs all contributed to record high home prices.
Houston real estate market leads nation with new homes on the market
Houston real estate market leads nation with new homes on the market Houston boasts a wealth of new homes on the market.
Photo courtesy of NextGen Real Estate When folks are shopping for a new home in the Houston area, there’s a good chance they’ll wind up in a newer home. In a new report by Homes.com, Houston ranks No. 8 in the U.S. for the newest homes for sale, with 29.3 percent of listings being built in 2000 or later. Ranking above Houston, here are the top locations for the newest homes being sold:
April home sales in local markets continued the surge that began at the beginning of the year.
Every local market saw fairly dramatic increases, according to the most recent data from the Houston Association of Realtors, but a couple stood out above the rest. The Central Northwest neighborhood and areas just west of U.S. 290 (zip code 77092) paced local zip codes with a more than 200 percent year-over-year-spike, while Garden Oaks/Oak Forest and other northwest spots (77018) saw twice as many homes sold compared to last April.
The pricing front was more of a mixed bag last month, with figures continuing to fluctuate from locale to locale.