Houston-area new-home sales gain momentum

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The Houston region registered increases in new-home sales and prices in December, bucking the trends in other large Texas cities, a new report showed.

More than 1,300 new homes were sold in Houston in December, up 0.9% from 1,294 in November, according to HomesUSA.com, a Dallas-area company that lists and sells houses for more than 60 homebuilders in the state.

The average price of a new home in Houston in December was $357,600, up slightly from $357,582 the month before.

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The figures are based on a 12-month rolling average of sales from local Multiple Listing Service and trade associations, including the Houston Association of Realtors and others in the Dallas/North Texas, San Antonio and Austin markets.

“Houston continues to show its comeback strength,” HomesUSA.com owner Ben Caballero said in an announcement.

Statewide, new-home sales reached 3,808 in December, down from 3,842 in November. Sales in the Dallas-Fort Worth region fell by 24 for the month to 1,312. Austin registered 16 fewer sales at 670 in December, while the total in San Antonio fell to 519 in December, down eight for the month.

The average price of a new home in the Dallas-Ft. Worth area fell to $375,960 in December from $376,458 the month before. Austin’s average price declined slightly to $369,331 in December from $369,392 in November. The average price in San Antonio dipped to $296,019 in December from $296,155 in November.

Statewide, pending new-home sales dropped to 3,519 in December, down from 3,692 in November. All four markets tracked reported lower pending sales.

Caballero said 2018 was still a record year for new home sales in the state.

“Do these numbers reflect cooling in other markets? Or is a large part of this simply seasonal impact? Time will tell,” he said.

Tribune Content Agency



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