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NAR Finally Gets Real About Home Affordability Issues

The National Association of Realtors is out with a new method of gauging home affordability. As part of NAR’s look at the the growing rift between housing availability and home affordability, NAR has developed a new affordability distribution curve and a home affordability score. The new monthly research is designed to look at home affordability conditions among different income percentiles, …

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Katy Texas Real Estate Market January 2017

Katy home sales fell 10 percent year-over-year in January as the mean reversion continued to take shape in the Houston area real estate market. Houston as a whole saw home sales volume that was up about 1 percent. Sales of new construction declined in January, falling 5 percent within Katy ISD and down 4 percent in Houston. Single-family home prices …

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Monkey Business – Expert Says Affordable Homes Are Going Away

Affordable homes are going away. With the prospect of rising rates, now is the time to buy a home. That is apparently the opinion of Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M. Torres, in a rather interesting piece in the Houston Business Journal seems to be confident that Houston’s real estate market is on …

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Reign Of Economic Error Continues To Plague Housing Market

The reign of economic error holding back the U.S. housing market was on display again this week. New home sales for December came in well below estimates, falling 10 percent from the November euphoria. The National Association of Realtors reported that existing home sales softened to a seasonally adjusted annual rate of 5.49 million in December. That was a 2.8 …

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Why Home Builders Can’t Meet Housing Demand

America’s home builders are having a difficult time meeting housing demand, or so they say. While access to credit is cited as a factor that is holding back builders, that’s only a partial cause of builders’ reluctance to put their money where their optimism index mouth is. As NAHB chief economist, Robert Dietz, explains it builders are finding it more …

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Katy Texas Real Estate Market December 2016

Katy Texas real estate finished out 2016 much like it started, with sales volume stagnating amid diminished affordability and increasing inventory. Home sales within Katy ISD declined seven percent during December while Houston area home sales rose about 3 percent. New home closings within Katy ISD were down 28 percent compared to December of 2015 while new home sales fell …

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Katy Texas Real Estate Market November 2016

Katy Texas homes were flying off the shelf in November as buyers hedged election year uncertainty and locked in their relocation plans. Compared to November of last year sales volume in the Katy area was up by 19 percent. Sales in Houston as a whole rose by 21 percent year-over year. New home sales in the Houston area rose by 24 …

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Katy Texas Real Estate Market October 2016

It was another rough month for the Katy Texas real estate market. Sales were flat during the month of October, but area home prices were not so fortunate. Home sales volume was flat within Katy ISD and for the Houston area as a whole during the month. New home sales volume did fare better in Houston, rising 9 percent, compared …

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September New Home Sales: Let The Revisions Begin!

A few months back I wrote that the new new home sales numbers from the Census Bureau were a work of fiction, and it turns out I was correct. The original summer numbers from the Census now look even more like election year theater. Census posted new home sales for September, and the downward revisions to the previous three months …

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Texas Housing Market Meets The Fed’s ‘Game of Thrones’ Economy

The latest issue of Tierra Grande is out, and it contains more examples of the Federal Reserve’s fingerprints on the Texas housing market. This new batch of evidence is contained in an article titled ‘Game of Homes – The Supply-Demand Struggle’. What is thoroughly entertaining is that the two Dallas Fed employees (both recent college graduates apparently) working on this …