New Home Sales Rebound In May

The Census Bureau reported a rebound for new home sales in May. New residential home sales posted at a seasonally adjusted annual rate of 610,000. This was 2.9 percent higher than the revised April numbers and 8.9 percent higher than a year ago. The median price of a new home contracted in May was $345,800 while the average new home … Read More

Cinco Ranch Average Rents Still At Multi-Year Lows

Cinco Ranch average rents were still at multi-year lows in May. As we head into the summer selling season, some buyers will have a difficult decision to make, particularly if they are expats here on short-term work assignments. Looking at the Katy area rental market, the choices are still plentiful, and the rents in Cinco Ranch are still at hovering … Read More

Rent vs Buy In Houston Texas? Don’t Ask Trulia

The Houston Chronicle’s real estate desk offered up another dose of “fake news” when they regurgitated Trulia’s latest edition of rent vs buy calculations. In Layman’s terms Trulia’s rent vs buy calculations are essentially worthless when it comes to Houston Texas. It’s amazing that Houston’s largest newspaper would even reference them. They are really that bad. I can only assume … Read More

NAR: Existing Home Sales Slip 2.3% In April

Existing home sales for April slipped 2.3 percent according to The National Association of Realtors. This comes on the back of the sharp correction in new home sales reported yesterday by the Census Bureau. Existing home sales for April posted at a seasonally adjusted annual rate of 5.57 million units. While down from the previous month, this was roughly 1.6 … Read More

New Home Sales Tumbled In April, Unchanged Year-Over-Year

So much for the Trump bump euphoria. New home sales tumbled in April, posting at a seasonally adjusted annual rate of 569,000. This was 73,000 below the revised March figure and far below analysts expectations. Then again analysts haven’t been paying attention to the real economy, so this latest data is not a surprise to anyone who doesn’t have their … Read More

Cinco Ranch Rental Prices Fall 6 Percent In April

Cinco Ranch rental prices remained weak in April despite relatively healthy home sales during the month. The glut of multifamily housing in the West Houston Energy Corridor and Katy has continued to take its toll on monthly rents. Average rents within the master-planned community of Cinco Ranch were down by 6 percent compared to last year. The pronounced softness in … Read More

New Home Sales Rise In March, Back To 1971 Levels

The Census Bureau reported that March new home sales posted at a seasonally adjusted annual rate of 621,000 units. This was up 5.8 percent from revised February numbers and the third consecutive month of sales gains for new homes. Combined with the March rise in existing home sales it would appear the first quarter of 2017 has been net positive … Read More

Houston Texas Real Estate Market March 2017

Houston Texas homes were flying off the shelf in March as buyers showed no slights of slowing down even with slightly higher mortgage rates compared to last year. Houston saw an eleven percent increase in home sales activity, and some areas like Katy Texas eclipsed that with a 15 percent rise in sales volume. Houston luxury homes sales ($750,000 and … Read More

When Will The Houston Texas Apartment Specials End?

Houston Texas Apartment Specials

When will the Houston Texas apartment specials end? Probably not as soon as many local economists are hoping for. I will explain why, but before I do enjoy this interesting podcast with the Houston Chronicle’s real estate reporters Nancy Sarnoff and Erin Mulvaney. In this podcast Bruce McClenny offers some nice historical perspective of the Houston apartment market and why … Read More

Census: New Home Sales Rise With Decline In Median Price

New Home Sales

The Census Bureau reported new home sales for February that were 12.8 percent higher than a year ago. New home sales posted at a seasonally adjusted annual rate of 592,000, with the bulk of the sales increase coming from the Midwest region.. The median price of a new home contracted in February was $296,200, down from $311,300 last year. The … Read More