Houston, TX - Local Housing Data - Summary

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Houston, Sugar Land, Baytown, TX

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Houston, TX Local News

  • Builders Break Ground in Houston's New Groves MPC

    Houston Chronicle staffer Nancy Sarnoff reports that a half a dozen builders have started pre-selling homes in The Groves, the latest planned community on the north side of Houston. Crescent Communities is building the 993-acre development south of Kingwood. Highland Homes, David Weekley Homes,...

  • Audubon Hollow, Houston

    Merit Award, 2014 Builder's Choice and Custom Home Design Awards

  • Sims Luxury Builders to Build Riva at the Park, Launching Condo Line

    Houston Business Journal staffer Paul Takahashi reports that a 25-year Houston custom home builder is embarking on its first multifamily development, a mid-rise luxury condominium project inside the [Houston] Loop.

Prices of New Homes Gain in Houston, Sales Decline According to Freshest Data

Posted on: Sep 11, 2014 07:15:14 AM

In the Houston, TX market, new home closings declined year-over-year in June, and the percentage decline, which was steeper than May 2014, gave hints that the market may be worsening. Closings slumped 21.6% from a year earlier to 1,560. This was after the housing market saw a 4.8% decline year-over-year in May.

A total of 21,846 new homes were sold during the 12 months that ended in June, down from 22,275 for the year that ended in May.

As a percentage of overall housing closings, new home closings represented 11.9%. This is down from the 15.5% of closings a year earlier. Following a decline in May year-over-year, closings of new and existing homes rose year-over-year in June.

Pricing and Mortgage Trends

The average price of newly sold homes grew year-over-year 5.9% in June to $292,923 per unit. This lift is smaller than the 6.4% rise in May year-over-year.

Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. The average mortgage size saw a 5.9% gain year-over-year to $252,855 in June. In May 2014, average mortgage size on newly sold homes saw a 6.1% lift year-over-year from a year earlier.

 
 
 

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