Houston-area new-home sales gain momentum (Dallas, San Antonio: neighborhoods, buyers, to live in)

[Double L]

Houston-area new-home sales gain momentum

The Houston region registered increases in new home sales and prices in December, bucking the trends in other large Texas cities, a showed.

More than 1,300 new homes were sold in Houston in December, up 0.9 percent from 1,294 in November, according to HomesUSA.com, a Dallas-area company that lists and sells houses for more than 60 homebuilders in the state.

The average price of a new home in Houston in December was $357,600, up slightly from $357,582 the month before.

The figures are based on a 12-month rolling average of sales from local Multiple Listing Service and trade associations, including the Houston Association of Realtors and others in the Dallas/North Texas, San Antonio and Austin markets.

"Houston continues to show its comeback strength," HomesUSA.com owner Ben Caballero said in an announcement.

Statewide, new home sales reached 3,808 in December, down from 3,842 in November. Sales in the Dallas-Fort Worth region fell by 24 for the month to 1,312. Austin registered 16 fewer sales at 670 in December, while the total in San Antonio fell to 519 in December, down eight for the month.

The average price of a new home in the Dallas-Ft. Worth area fell to $375,960 in December from $376,458 the month before. Austin's average price declined slightly to $369,331 in December from $369,392 in November. The average price in San Antonio dipped to $296,019 in December from $296,155 in November.

Statewide, pending new home sales dropped to 3,519 in December, down from 3,692 in November. All four markets tracked reported lower pending sales.

Caballero said 2018 was still a record year for new home sales in the state.

"Do these numbers reflect cooling in other markets? Or is a large part of this simply seasonal impact? Time will tell.," he said.

https://www.chron.com/business/bizfe...m-13570004.php

[Synott]

This is good, home sales are slowing all across the nation but still going strong in Houston

[As Above So Below...]

Youd never know it in my neighborhood, but glad to hear its up overall.

[Jack Lance]

Originally Posted by As Above So Below...

Youd never know it in my neighborhood, but glad to hear its up overall.

These are "new" home sales. HAR's report on overall home sales will be a better barometer for the overall housing market.

[As Above So Below...]

Originally Posted by Jack Lance

These are "new" home sales. HAR's report on overall home sales will be a better barometer for the overall housing market.

The biggest problem seems to be the fact that the available inventory in the Houston area is really high right now. Its an age old supply vs. demand.

[Jack Lance]

Originally Posted by As Above So Below...

The biggest problem seems to be the fact that the available inventory in the Houston area is really high right now. Its an age old supply vs. demand.

In HAR's last report Houston's average and median home prices were still rising. I suspect the December report will continue that momentum. With a less than 4 month supply of available homes on the market Houston is technically still a sellers market.

[Synott]

Originally Posted by As Above So Below...

The biggest problem seems to be the fact that the available inventory in the Houston area is really high right now. Its an age old supply vs. demand.

There is lots of available inventory in areas that have low demand. High demand areas are very low inventory

[As Above So Below...]

Originally Posted by Synott

There is lots of available inventory in areas that have low demand. High demand areas are very low inventory

I mean, I live in Willowbend. Its not what Id call a low demand area. Its not West U, but still relatively desirable. If you compare other similar neighborhoods in other cities, I would consider the inventory high.

[SouthernBoy205]

I wonder which part of town is seeing most of this growth.

[Synott]

Originally Posted by As Above So Below...

I mean, I live in Willowbend. Its not what Id call a low demand area. Its not West U, but still relatively desirable. If you compare other similar neighborhoods in other cities, I would consider the inventory high.

Parts of willowbend flooded and prices aren’t low enough to attract many buyers. It’s not a “bad” area but too far south for my taste. Not to mention you have to get on 610 to get to the Galleria which is horribly congested. If you were to live in the west, Westheimer is a more “smoother” commute to Galleria even with all the lights traffic flows rather nicely