HomesUSA: Spring ‘rebound’ incoming for Texas new-home sales
New-home sales decreased across Texas last month, according to the latest report from HomesUSA CEO Ben Caballero.
In Houston, there were 1,850 new-home sales in January, down from 1,933 in December. Pending listings increased, however, with 1,753 new-homes going under contract compared to 1,692 a month prior. Meanwhile, prices rose by 0.2%, with an average new-home price of $403,782.
“Spring will see a new-home sales rebound in Texas,” Caballero said in the report. “January was a ‘steady-as-she-goes’ month for Texas new home sales — because Texas is home to the largest new-home markets in the nation, stability is a good thing. Our new-home market in Texas remains healthy, and we should see it strengthening into the spring.”
Active listings remained relatively flat statewide, with Houston new-home inventory increasing from 11,934 properties in December to 12,016 properties in January, a reflection of the strong pace of construction in the Houston metro area. Active listings decreased marginally in all three of the other major Texas markets.
