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

Houston Home Sales – Real Estate Market May 2017

Houston home sales continued to shine in May. Single-family home sales were up 11 percent compared to last year. Katy Texas home sales were flat for the month. The median price of a home sold in May hit a new all-time high of $235,000, while the average price of a Houston home was near a record at $302,362. Active listings … 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

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

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

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 Home Sales – Real Estate Market April 2017

Houston home sales posted another positive month of growth in Houston in April. Sales volume of single-family homes rose approximately 3 percent, while sales of homes in the Katy area rose by double digits. The increase in sales volume in April was once again boosted by better new Houston home sales, and a sixth consecutive month of higher luxury homes … 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

Fort Bend CAD 2017 Assessments Closer To Reality

With the preliminary Fort Bend CAD 2017¬†assessments now released, it appears FBCAD has accomplished what the Texas Legislature failed or refuses to do…lower your property tax bill. After several years of abusing Katy area homeowners and ramping up assessments beyond actual market values, the Fort Bend Central Appraisal District has done what many considered unthinkable, actually dropping assessed values, some … Read More