Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a new Redfin report.  As of May 15, the typical 30-year fixed mortgage rate was 6.99%, down from

Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a Redfin report. 

Realtors added 3,574 properties into the MLS during the week ended May 13, a 23.7% increase year over year.

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Leases of SFRs increased 3.8% year over year, with 3,762 units leased during the month.

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

Only 40% of households in the Houston area could afford a median-priced home in the first quarter.

The priciest home sold in greater Houston last month is a 7,258-square-foot new build in the Southside area.

So far this year, Texas’s in-to-out move ratio is up 17% year over year, meaning far more new residents are moving in than moving out of the Lone Star State.

Realtors entered 3,736 properties into the MLS during the week ended May 6. That’s a 16.1% increase year over year.

Home sales rebounded in April amid pre-pandemic inventory volumes, according to the latest Market Update from the Houston Association of REALTORS®.

Closings declined during the week ended April 29 in Houston as new listings maintained their stronghold over 2023 levels.

The average listing price for the Houston area increased to $448,541 last month, up from $431,684 in April 2023.

The area of Porter/New Caney West, located about 30 miles northeast of downtown Houston, saw the largest year-over-year increase in home sales in the first quarter.

“Realtors are working with buyers and hearing from lots of others who are considering buying,” said Jef Conn, chairman of Texas REALTORS®.

A majority of the most expensive new listings in Texas are located in the Dallas area.