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

Lincoln Institute Whiffs On Houston Property Taxes

Did you hear the joke about Houston property taxes where the bill on a median value Houston home is only $2360? That’s the comical assumption put forth by the Lincoln Institute of Land Policy in their 50-State Property Tax Comparison Study. In a rather wonky trip down the rabbit hole, the Lincoln Institute would have us believe that Houston has … 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

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

Houston Employment Growth Lags State, Wage Growth Still Absent From Picture

The good news for the Houston economy reading through the latest employment figures from the Texas Workforce Commission is that the Houston area is still creating jobs in 2017. The pace of job growth actually picked up a bit for the State of Texas in April, while Houston has continued to lag other metro areas. It continues to be a … Read More

Patrick Threatens Special Session Over Worthless Bathroom, Property Tax Bills

The rift between the “conservative” Texas Senate and the more rational House chamber in the Texas legislature boiled over again this week as Dan Patrick threatened to take his toys and go home if the Legislature doesn’t give him what he wants. More specifically, Patrick has threatened a special legislative session unless the House passes property tax reform and a … 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

City Of Katy Lands Amazon Fulfillment Center, But At What Cost?

Katy Texas Welcome Marquee

“A tree falls the way it leans. Be careful which way you lean.” As residents of Katy Texas are busy making their daily slog down the congestion of the Grand Parkway or the soon-to-be traffic debacle around what is arguably the most expensive high school football stadium on the planet, perhaps it is time to question the pursuit of endless … Read More

Katy Texas Real Estate Market February 2017

Katy Texas Real Estate

Katy Texas home sales rose 13 percent in February, besting the 4 percent increase in sales activity in the general Houston area. Sales of new construction were also slightly higher in February compared to the leap year month of last year. Despite one less day for the year-over-year comparison, sales volume was still in positive territory. It appears more buyers … Read More

Investor-Owned Homes In Houston Texas Landlord Nation

Landlord Nation

Landlord Nation is alive and well in Houston Texas. It is quite likely that investor-owned homes have been a major factor behind the resilience of the local real estate market after energy markets collapsed. As I mentioned in a previous post rising median home values are just another indicator of the distortions in the new housing market, which is highly … Read More