National Market Update

New Home Sales fell 10.9% in September, now 17.6% below where they were a year ago.  With rising mortgage rates and higher prices, the problem is declining affordability.  The median price is up 13.9% from a year ago.

The Pending Home Sales index of signed contracts on existing homes dropped 10.2% in September.  The National Association of Realtors observed Persistent inflation has proven quite harmful to the housing market.

But affordability is improving.  For the second moth in a row, the Case-Shiller and FHFA home price indexes fell inn August, hitting the fastest pace since 2010-2011.  They're still up annually, Case-Shiller, 13.0%, and FHFA 11.9%

If you want more information about the Real Estate market area where you work or live, Call or Text me at 713-204-4726  I am happy to meet with you and discuss it.

Have a Blessed Day!