Townhouse/Condominium Houston report

Townhouse/Condominium Update
After its first positive month of the year in April, sales of townhomes and condominiums fell 6.4 percent in May, with a total of 675 units sold versus 721 a year earlier. The average price rose 2.5 percent to $213,912 while the median price increased 3.0 percent to $170,000. Inventory grew slightly to a 4.2-months supply.

Houston Real Estate Highlights in May

• Single-family home sales rose 1.0 percent year-over-year, with 8,157 units sold, the second largest one-month sales volume of all time;
• Days on Market (DOM) for single-family homes increased slightly from 51 to 52 days;
• Total property sales edged up 0.6 percent with 9,721 units sold;
  Total dollar volume increased 2.0 percent to $2.8 billion;
• The single-family home median price rose 3.4 percent to $243,000, which represents an all-time high;
• The single-family home average price increased 1.3 percent to a record high of $305,511;
• Single-family homes months of inventory was flat at a 4.0-months supply, the highest level since last August and equal to the national inventory level;
• Townhome/condominium sales fell 6.4 percent, with the average price up 2.5 percent to $213,912 and the median price up 3.0 percent to $170,000;
• Leases of single-family homes declined 1.8 percent with the average rent up 3.7 percent to $1,845;
• Volume of townhome/condominium leases dropped 22.6 percent with the average rent up 1.0 percent to $1,580.

Home Houston, Single family up date

Single-Family Homes Update
Single-family home sales rose 1.0 percent in May with 8,157 units sold throughout greater Houston compared to 8,078 a year earlier. That is the greatest one-month sales volume since June 2017 when 8,368 homes sold. On a year-to-date basis, home sales are 3.0 percent ahead of 2017’s record pace.

Prices reached historic highs in May. The median price increased 3.4 percent to $243,000. The average price rose 1.3 percent to $305,511.

Days on Market (DOM), or the number of days it took the average home to sell, edged up from 51 to 52 days. Inventory held steady at a 4.0-months supply which is its highest level since August 2017 and is the same as the current national inventory level.

Broken out by housing segment, May sales performed as follows:

• $1 - $99,999: decreased 13.8 percent
• $100,000 - $149,999: decreased 21.8 percent
• $150,000 - $249,999: unchanged
• $250,000 - $499,999: increased 6.9 percent
• $500,000 - $749,999: increased 10.3 percent
• $750,000 and above: unchanged

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 6,831 in May, up 1.2 percent versus the same month last year. The average sales price increased 2.8 percent to $297,959 while the median sales price rose 5.2 percent to $231,500.

Houston housing market

May Monthly Market Comparison
Measurements for the Houston real estate market’s May performance were largely positive, with single-family home sales, total property sales, pricing and total dollar volume all up compared to May 2017. Month-end pending sales for single-family homes totaled 8,991, a 12.1 percent increase over last year. Total active listings, or the total number of available properties, fell 1.4 percent to 39,478.

Single-family homes inventory was unchanged year-over-year, maintaining a 4.0-months supply, but is at its highest level since last August when it grew to a 4.3-months supply. For perspective, housing inventory across the U.S. also stands at a 4.0-months supply, according to the latest report from the National Association of REALTORS® (NAR).

Houston for lease property reports

Lease Property Update
Activity among leased property slowed in May. Single-family home rentals declined 1.8 percent while leases of townhomes and condominiums fell 22.6 percent. The average rent for single-family homes rose 3.7 percent to $1,845 while the average rent for townhomes and condominiums edged up 1.0 percent to $1,580.

EB5 Guideline

• Our Guidelines: Effective January 2014, in order to qualify for a TEA certification, the following requirements need to be met:
  • The Census tract(s) and/or block group(s) used toward a contiguous or shared method designation cannot consist of more than 12 tracts within a 4 to 5 mile radius of the proposed site.
• Designation Requests: (Petitioners should consider the following prior to submitting a request)
  • A specific address for the proposed investment will be needed to determine whether or not the new business is situated in a qualifying area. However, if a specific address is not yet available, a general description of the location or close area will suffice to tie the request to a qualifying area within a MSA, county, CDP, or city.
  • Verify that the designated census tracts combined qualifies as a High Unemployment Area (has an unemployment rate equal to or exceeding 150 percent of the national unemployment average) using the current statistical analysis.  The City of Houston requires that you use the most up to date labor data.  At the current time, the most recent unemployment information at the census tract level is the American Community Survey (ACS) 2009-2014 – 5 Year estimate used in conjunction with the Bureau of Labor Statistics (BLS) 2014 county unemployment.

EB5 in Houston?

In 1990 Congress created a program known as “EB-5”: the Immigrant Investor Program. Immigrants invest large sums of money in America and then the U.S. grants them an “EB-5” visa. This visa program is administered by the United States Citizenship and Immigration Services. Through this program, the United States encourages international entrepreneurs to invest in America, developing American jobs and companies through the program. However, the program limits the number of visas they offer and the U.S. maintains conditions on whom may apply

The state has given Our Economic Development Division the authority to designate project sites as a Target Employment Area (TEA), a requirement within the application for smaller investment opportunities. 

A simplified summary of the program:

• The investor must create or preserve at least 10 full time jobs within 2 years
• The investor must invest in a new commercial enterprise or
• The investor must invest at least 1 million U.S. Dollars  
• The investor must devote 500 thousand Dollars in a high unemployment or rural zone

Houston housing market

Prices edge upward even as the supply of homes improves

HOUSTON — (June 13, 2018) —The greater Houston real estate market remained in positive territory in May with a one percent rise in home sales and new record highs for both average and median prices. However, consumers showed waning interest in renting single-family homes and townhomes/condominiums.

According to the latest monthly report from the Houston Association of REALTORS® (HAR), 8,157 single-family homes sold in May versus 8,078 a year earlier. That represents a 1.0 percent increase and marks the second greatest one-month sales volume in history.

Home prices reached the highest levels of all time. The single-family home median price (the figure at which half of the homes sold for more and half sold for less) increased 3.4 percent to $243,000 and the average price edged up 1.3 percent to $305,511, beating the previous record of $305,065 set last month.

For the fourth straight month, the best-performing segment of the market consisted of homes priced in the $500,000 to $749,999 range, which jumped 10.3 percent. The luxury market – those homes priced at $750,000 and above – was unchanged year-over-year.

“We saw textbook seasonality at play across most of Houston in May as the spring homebuying season got underway, and an improving supply of homes definitely helped,” said HAR Chair Kenya Burrell-VanWormer with JPMorgan Chase. “Slower sales among luxury homes should ease pricing pressure going forward which we know would be welcomed news for those concerned about affordability, but for now, Houston remains a seller’s market.”

May sales of all property types totaled 9,721, an increase of 0.6 percent versus the same month last year. Total dollar volume rose 2.0 percent to $2.8 billion.

Houston real estate report, April 2018

Houston Real Estate Highlights in April

• Single-family home sales jumped 6.9 percent year-over-year, with 7,070 units sold;
• Days on Market (DOM) for single-family homes increased slightly from 55 to 56 days;
• Total property sales rose 5.1 percent with 8,453 units sold;
• Total dollar volume increased 10.5 percent to $2.4 billion;
• The single-family home median price rose 5.3 percent to $240,000, which represents an all-time high;
• The single-family home average price climbed 5.2 percent to a record high of $305,092;
• Single-family homes months of inventory shrank year-over-year from a 3.8-months supply to 3.6 months, the highest level since last November and the same as the national inventory level;
• Townhome/condominium sales increased 0.5 percent, with the average price up 5.9 percent to $220,704 and the median price up 2.8 percent to $176,730;
• Leases of single-family homes rose 2.0 percent with the average rent up 3.6 percent to $1,778;
• Volume of townhome/condominium leases jumped 8.6 percent with average rent up 1.1 percent to $1,576.

Houston single Family Houses information

Single-Family Homes Update

Single-family home sales rose 6.9 percent in April, with 7,070 units sold throughout greater Houston compared to 6,611 a year earlier. That is the greatest one-month sales volume since July 2017. Sales volume within the luxury market – defined as homes priced from $750,000 and up – saw gains after remaining flat for two consecutive months. On a year-to-date basis, home sales are 3.6 percent ahead of 2017’s record pace.

Prices reached historic highs in April. The median price increased 5.3 percent to $240,000. The average price jumped 5.2 percent to $305,092.

Days on Market (DOM), or the number of days it took the average home to sell, edged up from 55 to 56 days. Inventory narrowed from a 3.8-months supply to a 3.6-months supply year-over-year, but is at its highest level since November 2017 and is the same as the national inventory level.

Broken out by housing segment, April sales performed as follows:

• $1 - $99,999: decreased 6.8 percent
• $100,000 - $149,999: decreased 21.3 percent
• $150,000 - $249,999: increased 7.7 percent
• $250,000 - $499,999: increased 16.8 percent
• $500,000 - $749,999: increased 28.7 percent
• $750,000 and above: increased 4.7 percent

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,813 in April, up 6.1 percent versus the same month last year. The average sales price increased 9.0 percent to $297,745 while the median sales price rose 8.0 percent to $229,000.

Lease property in Houston

Lease Property Update

Property leases had a healthy performance in April. Single-family home rentals increased 2.0 percent while leases of townhomes and condominiums jumped 8.6 percent. The average rent for single-family homes rose 3.6 percent to $1,778 while the average rent for townhomes and condominiums edged up 1.1 percent to $1,576.

April Monthly Market Comparison

The Houston real estate market achieved gains in all but two categories during the month of April, with single-family home sales, total property sales, pricing and total dollar volume all up compared to April 2017. Month-end pending sales for single-family homes totaled 8,766, up 15.5 percent from last year. Total active listings, or the total number of available properties, fell 3.8 percent to 36,882.

Single-family homes inventory reached a 3.6-months supply in April versus 3.8 months a year earlier, but is at its highest level since last November. For perspective, housing inventory across the U.S. also stands at a 3.6-months supply, according to the latest report from the National Association of REALTORS® (NAR).