HomesUSA: Houston new home market ‘slowly returning to normal’

Despite inventory issues, the new home market in Houston is showing signs of improvement. A new report from HomesUSA.com found that new homes are staying on the market longer and prices and sales are stabilizing.

The report, which includes findings for Houston, Dallas-Fort Worth, Austin and San Antonio, is based on data from the Houston Association of REALTORS®, North Texas Real Estate Information Systems, Austin Board of REALTORS® and San Antonio Board of REALTORS®. .

The three-month moving average for new home sales in Houston shows January sales fell slightly to 1,521 from December’s 1,559. Additionally, January active listings fell to 7,680 from 7,813 the previous month.

According to data from the HomesUSA.com New Home Sales Index, new homes in Houston remained on the market for an average of 70.77 days in January, compared to 68.50 days in December. The average price of a new home was $397,535 in January compared to $397,785 the previous month.

“Houston’s new home market is slowly returning to normal,” Ben Caballero, CEO of HomesUSA.com, said in a press release. “As consumer demand continues, builders are doing their best to build more to meet demand.”