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Houston Has Strongest New Home Market in Texas
According to a recent report by John Burns Consulting, Houston has the strongest new home sales market in Texas. The Houston market is rated as “normal” relative to new home buyer traffic, better new home sales, and overall housing sentiment. Pricing is a bit weaker than normal but buyer demand appears to be solid.
Dallas, Austin and San Antonio are all rated as “slow” as affordability is the major hurdle and buyer incentives are still necessary in most new home subdivisions.
Migration has slowed the last couple of years but is still driving new housing demand. 47% of agents expect prices to weaken while 13% expect prices to increase. Click here for the full report.
Houston leads the state in new homes for sale and new homes sold.
HomesUSA.com reports Days on Market, and prices flatten as inventory jumps 2%
Ben Caballero, founder and CEO of HomesUSA.com
Chart 2: Texas New Home Sales Market – August 2024
View the full article with more charts >
Apartment sales fall to 2011 levels, but DFW bucks the trend.
Apartment sales fell to 2011 levels in the first half of 2023, but Dallas – Fort Worth bucked the trend, with over 30,000 units sold. Remarkably, Dallas – Fort Worth sold twice as many apartment units as second place Houston, and leads the nation with 70,000 apartments under construction. See the full story in the Dallas Morning News.
Sam Bankman-Fried’s FTX bought over $120 million worth of properties in the last two years.
The properties include ocean-front condos in the Bahamas and a vacation home deeded in his Bankman-Fried’s parents names, Joseph Bankman and Barbara Fried. More details can be found in the original story regarding the FTX property purchases on zero-hedge.