Category: Real Estate
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New-home sales drop 6% in May as median-sales prices increase again
The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported. Read More
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Existing-home sales slide again in May
The median existing-home price for all housing types rose to $350,300 in May, marking another new record. Read More
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NAR: U.S. housing market is short 5.5 million homes
The shortage of housing in America is more “dire” than previously expected, and the NAR’s new report puts pressure on lawmakers to provide additional public funding and policy incentives to fix this massive underbuilding gap. Read More
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70% of homebuyers still facing bidding wars
Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin. Read More
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Richmond: 630 acres added to Harvest Green community
The annexed acreage will add about 1,400 homes to the master-planned community, as well as new amenities. Sales are expected to start in the fall of 2022. Read More
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New-home mortgage applications drop 9% in May
On a year-over-year basis, new-home mortgage applications were down 5.9% in May, the Mortgage Bankers Association reported, citing its Builder Application Survey. Read More
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Houston home inventory levels rebounded in May
Inventory levels rebounded last month, finally showing signs of recovery following a year of historical declines. Read More
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Houston home sales transactions up 49.5% from a year ago
The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, but month-over-month sales in Houston bucked the trend, climbing 1.3%, according to the RE/MAX May National Housing Report. Read More
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Land Tejas to develop 646-acre community in Cypress
The new development is expected to begin home sales next year and will have about 2,300 homesites. Read More
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Houston’s tight inventory shows signs of relief
HAR’s weekly activity snapshot shows that for the second consecutive week, new listings continued to rise, helping alleviate some of the pressure on dwindling inventory. Read More