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Ivy Zelman discusses US Housing Market

Ivy Zelman discusses the US housing outlook as she is joined by Kris Mikkelsen and Justin Nelson with Walker & Dunlop, who share what is happening in multifamily financing in March of 2026. Willy Walker moderates the discussion.

How I started as a Land Broker in Austin County TX

How One Phone Call Led to Jumpstarting a New Area of Real Estate Business and a Great Friendship.

As I often made the drive from Dallas, TX to my hometown of Eagle Lake, TX, I kept noticing a sign not too far from Sealy on HWY 3013, advertising a property – 462 Acres For Sale. Brokers Protected. Call (and a phone number was listed).  I eventually made the call and talked to a guy named Mike.  I don’t really remember the exact details of that initial conversation.  But at some point I was sitting in Mike’s office in Sealy showing him some marketing material I had created for the property.

I told Mike at some point my plan for moving back to my hometown of Eagle Lake to spend more time with my parents, as I had been residing in the Dallas metroplex for 20+ years.  My father had some heart health challenges and my biggest fear was not being around when he moved on to a better place.

I reached out to home builders and developers about the property, and eventually talked to a guy with LGI Homes.  Later down the road, the LGI Homes guy reached back out and eventually I made the trek to meet with them at their office in The Woodlands.  Mike and myself then helped get a deal done with LGI for a portion of the 462 acres.  LGI then met with the city and Economic Development team to try to get their plan approved.  But after almost a year, they dropped the contract.

I then reached out to DR Horton who quickly put a portion of the property under contract. But then Covid hit, and Horton cancelled the contract, but said they might be back soon.  And they were.  Horton came back (and pretty quickly, based on how long most real estate development timelines go) got the deal to the finish line.

I always referred to Mike as the right-hand man of David Cryan, a longtime home builder, developer and investor based in Sealy with Ranch Country Homes.  Because that’s really what he was.  I really enjoyed working with Mike as he really pored into the details of real estate, and deals, as we worked together to sell another six or seven significant properties.  I’ve always been a bit of a lone wolf when it comes to real estate brokerage, but it was really enjoyable working with a creative mind like Mike.

You could tell Mike loved real estate, and he worked on it as long as his body allowed.  I am not sure if his health downturn occurred because of Covid, but it eventually became more difficult for him to get around, yet he still showed up for work every day.  

The middle of 2023 was tough.  Mike eventually passed away in May of 2023, right before my father in July of 2023.  Looking back, it almost seems like Mike was put in my life by God.  In retrospect, I think of him as an Angel, always there to help guide me as I jumpstarted my career in a new location.  I wish I would have thanked him more profusely for all of the opportunities he provided, and I wish I would’ve made him aware of what he meant to me.

I really miss Mike and I hope to come across another person like him some day – a person you can work together with that is a true friend, mentor, and someone that truly wants the best for you.  If I do, I can promise you, I won’t take it for granted.    

How are Houston and DFW New Homes Selling?

How Are New Homes Selling in Houston and DFW in the Last 30 Days?

By Troy Corman, founder of t2 Real Estate

To get a better gauge on how new homes are selling in Dallas County and Harris County, we’ll compare sales and prices in the last 30 days (through August 27) to the same time period one year prior.

Starting in Dallas County, 180 new homes were sold in the last 30 days with an average price of $644,102. These homes averaged 2,534 square feet, while the median price of new homes averaged $370,623 at 2,100 square feet.  Days on market averaged 106 days.

One year ago, 197 new homes were sold in Dallas County at an average price of $625,578 at 2,408 square feet.  The median price was $385,999 at 2,163 square feet.  Days on market averaged 99 days.

Dallas Townhome and Condo Sales Statistics

According to NTREIS, there were 63 condo and townhome sales in the last 30 days at an average price of $448,253 on 1,911 square feet.  The median price was $388,000 at 1,849 square feet.  Days on market averaged 88 days.

A year ago, DFW recorded 90 condominium and townhome sales with an average price of $545,295 on 1,982 square feet and a median price of $404,683 on 1,908 square feet.  Days on market averaged 96 days.

New Home Sales Statistics in Harris County (Houston)

In Harris County (Houston), there were 837 new homes sold in the last 30 days at an average price of $418,638 on 2,202 square feet.  The median sales price was $338,720 on 1,988 square feet.  Days on market averaged 77 days.

A year ago, Harris County recorded 700 new homes sold in the same time period, with an average price of $454,571 at 2,269 square feet.  The median sales price in Houston was $352,541 a year ago with a median square footage size of 2,053.  Days on market averaged 81 days.

In conclusion, it seems that sales prices and home sizes are decreasing on new construction homes in Houston and Dallas – Fort Worth.  With lower average home sizes and home prices, sales momentum seems to be picking up in Houston, while Dallas – Fort Worth is still facing headwinds from the challenging affordability issue affecting  mainstream America.

However, lower mortgage rates should help some.  As of today’s writing, the average 30-year mortgage is 6.51% while the 15-year is at 5.88% according to MortgageNewsDaily.com.  That should bring more buyers into the market, as pent-up demand continues to build during this prolonged real estate market malaise.  But it seems the Houston market may have turned the corner.

20 Years That Changed Home Building

When Did Home Building by Craftsmen End?

https://www.youtube.com/@BrentHullBrent Hull discusses the history of home building in the US, and how the focus on the mass production of new homes eliminated the highly skilled craftsmen who built all of the new homes until the 1940s.  Brent Hull has a great YouTube channel ( https://www.youtube.com/@BrentHull ) where he discusses historic homes and craftsmanship.   

DFW July Home Sales Leap Over 2024

July DFW Home Sales Leap Over 2024.

DFW area home sales rebounded with healthy gains over July of 2024. Collin County led the way with a robust 18.5% gain.  Obviously, some of the gain can be attributed to new home subdivisions stretching north of the metroplex. According to NTREIS, it was Collin’s highest July home sales closings since the boom year in 2021.

Denton County recorded 1,383 closings, and exceeded 1,223 closings in 2024 for a healthy 13% increase.  It also exceeded Denton’s 2023 closings of 1,322 homes.

Dallas County closings were up 9% with 1,890 closings, but below 2023 numbers when 1,944 homes closed.

Heading west, Tarrant County registered 2,167 closings, up 10% over last July, and it also exceeded the 2,109 closings that occurred in 2023. 

Combined with Houston’s 9% increase in home sales and impressive July pending sales up 32%, has the market turned in Texas’ two largest metros?   Time will tell.

Houston Home Sales Rise 9% in July

Houston Home Sales Jump 9% in July.

3By Troy Corman, Land Broker with t2 Real Estate

For the third consecutive month, home sales in Houston increased year-over-year in July, with single-family homes leading the way, up 9%.  While some of the gain can be attributed to the fact that last year, Hurricane Beryl slowed sales for a few days, pending sales rocketed up an impressive 32.2%.

The median price decreased 3.1% to $339,000 while the average price slipped 1.9% to $434,664.

Properties available for sale increased 38.2% over last July.

Meanwhile, lower mortgage rates may be incentivizing the increased buyer demand as a 15-year mortgage is now averaging 5.95% while a 30-year loan now averages 6.58%.

 
Greater Houston area closings in July as compared to a year ago:
  • $1 – $99,999: increased 26.3 percent
  • $100,000 – $149,999: increased 39.1 percent
  • $150,000 – $249,999: increased 25.5 percent
  • $250,000 – $499,999: increased 6.0 percent
  • $500,000 – $999,999: increased 0.5 percent
  • $1M and above: increased 7.5 percent