Why Houston Led the State in New Home Sales Yet Again in August

Houston’s real estate market is killing it in new home sales this year. According to HomesUSA.com reports, for the past 3 months, they’ve posted higher sales volumes than the Dallas-Fort Worth real estate market.

How does Houston manage to continue coming in at #1 so effortlessly? Dedication and hard work from the real estate market, as well as the home builders, is the answer.

“Houston home builders continue to show resiliency as overall sales remain strong”, says homesUSA.com’s CEO Ben Canerallero in an announcement.

In August, new home sales in Houston were up slightly from $1,423 in July to $1,432 in August and the average new home price reached $355,942 in August which is a slight increase from $355,773 in July.

This is also a great improvement from August 2018 where homes sold for an average of  $353,780. That’s amazing!

What sets the Houston real estate market apart from the rest?

With Houston being the largest city in Texas, it’s not difficult to see how they’ve been able to make it to the top for three months in a row.

Aside from that, Houston has multiple preferred lenders which means multiple loan programs and more people getting placed in the homes and buildings of their dreams — only one reason they continue to be a rising star in real estate sales across the state.

Another reason for their continued success could be the fact that their average new home price hasn’t shown a significant increase. In fact, It saw a slight decrease from $358,810 in June to $357,118 in July.

Not a large difference, but enough to note.

Will this trend continue in the coming months?

Houston’s recent accomplishments are nothing but motivation to real estate agencies and home builders all over the area to continue working hard to achieve the same goal month after month.

It’s hard to say how long this winning streak will last with Houston, however, they’re right on par to reach the same goal this month.

With continued hard work, Houston’s real estate market is on the mark for continued successes in the coming months.

What this means for home buyers in the Houston Area

Mortgage rates everywhere are at an all-time low which means now is the best time to lock in a low mortgage rate.

If you’re looking to buy a home in the Houston area, this is great news for you. What it means is, you are buying a new home in a thriving real estate market AND you get the benefit of low mortgage rates (in Texas they are an average of 3.68% for a 30 year fixed rate, 3.13% for 15 year fixed rate). Because of this, it will be easy to find the perfect home in the location of your dreams, all within your budget.

The continued growth within the Houston Real Estate Market shows us that supply and demand continue to grow which means there should be no shortage of new homes anytime soon.

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