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Katy Texas Real Estate Market February 2017

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 …

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Katy Texas Single-Family Rents Still Suffering From Apartment Glut

Single-family rents in Katy Texas were about four percent lower in February compared to 2016 levels. Despite higher leasing activity during the month, average single-family rents for homes throughout Katy (Katy ISD) were still noticeably softer in February. Data for February also indicate that days on market were almost 2 weeks longer than February 2016. It’s taking Katy area landlords …

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Investor-Owned Homes In Houston Texas 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 …

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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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Texas Economic Development Fueled By Taxpayer-Funded Corporate Subsidies

Texas economic development continues to be fueled by taxpayer-funded corporate subsidies. An estimated $1.4 billion in property tax revenue has gone uncollected in Texas from 2005 to 2015 as a result of Chapter 313. These are the findings from the state auditor’s report in October 2016. As Texas Observer detailed last year, the free lunch to corporations doing business in …

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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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Katy Area Rents Continue Downward Trend In January

Katy rent prices continued their downward trend in January. Preliminary data for closed leases in Katy’s relocation market indicate a year-over-year price drop of more than 5 percent. As noted in the chart above, closed lease prices in Katy’s most popular master-planned community were the lowest they have been in years in January, even below the weakest numbers seen in …

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Inventory Of Katy Texas Homes For Lease Is Best In Years

The inventory of Katy Texas homes for lease is the best home shoppers have seen in years. Prices have come down, and the options for Katy Texas rental homes are generally more affordable throughout the Katy area. Katy Texas homes for lease are more affordable than they have been in years. This is probably welcome news if you are relocating to …

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Texas Renewable Energy Capacity Continues To Grow

Texas renewable energy growth is making important strides. Texas has been a leader in wind generation capacity for some time, but it appears solar energy is receiving long-overdue attention as well. A look at ERCOT’s recent Monthly Operational Overview shows significant growth in renewable energy power capacity in Texas. In the November ERCOT report, Texas was tracking 247 active generation …

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New Home Sales Rise In November To 592,000 (SAAR)

New home sales rose to a seasonally adjusted annual rate of 592,000 in November. Census Bureau numbers showed the average price of a new home contracted in November was $359,900, down from the average price of $376,800 seen last year. The median price of $305,400 was also lower than last year’s median of $317,000. New home sales have been surprisingly …