From March 2013 to March 2014, Texas accounted for $11.06 billion in home sales to international buyers, according to the 2014 Texas International Homebuyers Report released Sept. 2 by the Texas Association of REALTORS®. This is 12% of the $92.2 billion total sales volume from international buyers across the United States. Texas is the third-largest state for international home sales, and ranks seventh in the United States for percentage of foreign-born residents among the statewide population. Here are a few other highlights from the report:
• Fifty-nine percent of all international buyers in the state are from Latin America or the Caribbean.
• Naturalized U.S. citizens in Texas are almost 12% more likely to own a home than their native counterparts.
• Texas homeownership rates increase significantly the longer someone lives in the United States, rising from 13.3% for those who entered the U.S. after 2012 to 67.5% for those who entered the U.S. before 1990.
The Houston housing market eked out another month of positive sales in July with prices up and the supply of homes continuing to grow, albeit slightly. Sales volume reached the highest monthly total ever recorded.
Housing inventory, which fell to 40-year lows earlier this year, has edged up each of the last three months, reaching a 3.0-months supply in July. Prices climbed to the highest levels for a July, but were lower than June’s all-time record highs. Sales among homes priced between $250,000 and the millions showed the greatest strength, while Days on Market, or the number of days a home takes to sell, fell to a record low of 45.
Single-family home sales totaled 7,769 units, up 1.0 percent compared to July 2013, according to the latest monthly report prepared by the Houston Association of Realtors (HAR). That represents a record high one-month sales volume. New listings of single-family properties this month rose 5.5 percent, translating to 10,390 properties, which helped boost inventory from June’s 2.9-months supply to 3.0 months. That is still below the 3.4-months supply of inventory one year earlier and significantly lower than the current national supply of 5.5 months of inventory.
The average price of a single-family home jumped 6.4 percent year-over-year to $277,023. The median price—the figure at which half the homes sold for more and half for less—increased 6.8 percent to $202,000.
“July did not bring the most dramatic sales performance we’ve ever seen, but the numbers are headed in the right direction,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We are Read the rest of this entry »
Houston’s housing market refuses to lie down and take it. After the first decline in three years in May, home sales charged back into the black in June, most likely the result of an increase in new listings of properties. Those new listings may finally be helping feed the voracious appetites of home buyers who have been stymied by the lowest inventory levels in 40 years.
While inventory improved slightly to a 2.9-months supply, the month of May also saw home prices reach new record highs, with sales among homes priced between $250,000 and $500,000 showing the greatest strength. Days on Market, or the number of days a home takes to sell, reached the lowest level of all time – 46.
Single-family home sales totaled 7,553 units in June, up 4.5 percent compared to June 2013, according to the latest monthly report prepared by the Houston Association of Realtors (HAR). New listings rose 6.7 percent, helping nudge inventory up from May’s 2.8-months supply to 2.9 months. However, that is still lower than the 3.3-months supply of inventory in June 2013 and significantly below the national supply of 5.6 months of inventory.
The average price of a single-family home jumped 6.6 percent year-over-year to $283,697. The median price—the figure at which half the homes sold for more and half for less—soared 11.3 percent to $214,000. Both are historic highs for Houston.
“June’s positive sales performance is a testament to the strength of the Houston housing market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We were thrilled to see home sales rebound after May’s decline and we hope that as new listings come onto the market and home construction continues, inventory levels will rise to a point where we can truly say that balance has been restored.” Read the rest of this entry »
Here we go again! Adding jobs, spurring home sales and new construction. Katy continues to flourish with the announcement of Chevron adding a division on the Grand Parkway in Katy. This is a major land acquisition, 103 acres at the southwest corner of the Grand Parkway at Clay Road in Katy.
According to The Houston Chronicle, “The acquisition, which is expected to close in the third quarter, will give the company “future research and development facilities flexibility,” Chevron spokesman Justin Higgs said in an email.”
In addition to this development, a very busy Costco recently open at the intersection of I-10 and the Grand Parkway. Memorial Hermann is also expanding its facilities at this intersection.
Pictured above is a Cinco Ranch Southwest home that I listed in late February. We had 18 showings the very first day and four offers. It sold for $10,000 above list price cash!
I have never, in my 24 years of selling Katy real estate, seen a market as ferocious as this one! It’s a seller’s dream come true and a real challenge for buyers. Buyers definitely need to be working with a Realtor so they can get into see the new listings as soon as they go on the market!
March brought about the 34th consecutive month of positive home sales, despite the record low 2.6-month supply of inventory that has prevailed throughout 2014.
According to the latest monthly report prepared by the Houston Association of Realtors (HAR), home sales rose 3.7 percent year-over-year, with March single-family home sales totaling 5,971. That is the largest one-month sales volume recorded since last September.
The supply of homes first reached 2.6 months of inventory in December 2013 and has held steady ever since. However, it is down from the 3.5-month supply in March 2013 and significantly lower than the national supply of 5.2 months of inventory.
The average price of a single-family home increased 11.0 percent year-over-year to $261,329. The median price—the figure at which half the homes sold for more and half for less—climbed 9.8 percent to $189,900. Both figures represent the highest prices Houston has ever seen in a March.
Single-family homes priced from $250,000 through the millions saw the greatest sales activity and accounted for the latest jump in prices. Homes priced at $150,000 and below experienced declines.
“Houston home sales rose again in March, with most of the buying taking place at the higher end of the market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We’ve also seen Read the rest of this entry »
That figure was enough to put Cinco Ranch third nationally.
“We are very pleased and excited to be No. 1 in Texas and No. 3 in the nation,” said Heather Gustafson, Cinco Ranch Director of Marketing. “We have great schools, great amenities, great roadway links and a variety of homes for different needs.”
Cinco Ranch is due to complete development in 2017. By then, the neighborhood is expected to number 15,000 homes and have new water slides, tennis courts and additional playgrounds.
Here are the developments in the Houston area that made the list:
3. Cinco Ranch, Katy, TX.
6. Riverstone, Houston, TX.
8. The Woodlands, Houston, TX.
13. Cross Creek Ranch, Fulshear, TX.
15. Aliana, Houston, TX.
16. Woodforest, Montgomery, TX.
17. Sienna Plantation, Houston, TX.
18. CanyonLakes West, Cypress, TX.
To tour these outstanding neighborhoods, call me at 713-818-2404 or email me at [email protected]. I have sold Houston real estate for over 24 years and would love to share my expertise with you. Experience does count!
Gov. Rick Perry joined GEICO Chairman Tony Nicely and Lance LaCour, President and CEO of the Katy Area Economic Development Council, to announce the opening of a GEICO claims office in Katy.
The office is located at 21420 Merchants Way in Katy. GEICO expects the office to employ 400 associates by 2015 and up to 1,000 associates within the next three years. The company will fill positions for entry-level claims representatives, degreed candidates for liability claims representatives and college graduates for GEICO’s fast-track management development program with a focus on claims operations.
“We are energized by GEICO’s decision to establish its Houston Claims Center and 1,000 new jobs in Katy, Texas,” said Lance LaCour, president and CEO of the Katy Area Economic Development Council (EDC). “Katy Area EDC’s targeted focus on recruiting quality companies, such as GEICO, will Read the rest of this entry »
You won’t find signs of the traditional autumn slowdown in the Houston real estate market as August provided a 27th consecutive month of positive home sales. Following July’s small uptick in home inventory, buyers once again outpaced sellers in August, sending months of inventory from 3.4 to 3.3 months versus 4.9 months at the same time last year.
According to the latest monthly report prepared by the Houston Association of REALTORS® (HAR), home sales climbed 16.2 percent year-over-year, with contracts closing on 7,504 single-family homes. Monthly home sales volume has topped the 7,000 mark for four straight months, matching levels last seen in the spring of 2007.
The median price of a single-family home—the figure at which half the homes sold for more and half for less—rose 12.8 percent to $186,200. The average price increased 16.4 percent year-over-year to $260,607. Both figures represent the highest prices ever seen in an August in Houston.
August brought gains to all housing segments except the under-$80,000 market. Homes selling from $250,000 through the millions registered the greatest increase in sales volume.
“This has definitely been a summer sales season unlike any we have seen before,” said HAR Chairman Danny Frank with Prudential Anderson Properties. “Our small bump in inventory in July was short-lived as consumers bought faster than homeowners sold in August. It’s difficult to say exactly when Houston’s boiling real estate market will begin to cool down.”
Foreclosure property sales reported in the HAR Multiple Listing Service (MLS) dropped 47.0 percent compared to August 2012. Foreclosures currently make up just 7.7 percent of all property sales, down Read the rest of this entry »
HOUSTON — (April 16, 2013) — It’s hard to tell that the spring home buying season has begun because real estate transactions throughout Greater Houston never slowed during the traditionally quieter winter months. The addition of nearly 119,000 jobs over the past 12 months and the resulting need for housing, combined with continued low interest rates, helped make March Houston’s 22nd consecutive month of positive home sales.
According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), home sales jumped 17.0 percent compared to last March. Housing inventory, which had been at a 13-year low of 3.6 months during the first two months of the year, shrank slightly in March to 3.5 months.
The lower supply of homes and added demand sent prices higher. The median price of a single-family home—the figure at which half the homes sold for more and half for less—rose 6.5 percent to $172,000, an all-time record high for Houston. The average price rose 4.6 percent year-over-year to $236,195, the second highest level ever.
Contracts closed on 5,779 single-family homes. That is the largest one-month sales volume since August 2012. All housing segments experienced gains except for those priced under $80,000. Homes selling between $80,000 and $250,000 registered the greatest sales volume increase. Read the rest of this entry »
Home buyers snapped up enough homes in February to raise prices and hold inventory levels to 13-year lows!
Home buyers kept Houston-area REALTORS® hopping in February, generating a 15.5 percent increase in sales compared to the same month last year, according to the latest monthly data compiled by the Houston Association of REALTORS® (HAR). The buying spree held local housing inventory to the same level as January — 3.6 months — which is the lowest supply of homes on the market since December 1999.
February marked the 21st consecutive month of increased home sales, with average and median prices reaching the highest levels for a February in Houston.
Contracts closed on 4,407 single-family homes during the month. All housing segments saw gains except for those priced below $80,000. That suggests the likelihood of an exhausted supply of available homes at that price point. Homes selling from $250,000 to $500,000 registered the greatest sales volume increase, accounting for the price appreciation.
“The recent flurry of home buying and reduced inventory may seem unusual, but is exactly what the Houston market experienced back in the late 1990s,” said HAR Chairman Danny Frank with Prudential Anderson Properties. “The difference is Read the rest of this entry »