Both would-be homebuyers and home builders are taking a beating in the current market.
Al Ortiz | Houston Public Media
Andrew Schneider, Politics & Government Reporter | Posted on December 21, 2022
The average price of a new home in Houston is leveling off, according to a report by Dallas-based real estate firm HomesUSA. But that price is still a long way from being affordable for the average would-be homebuyer.
The average price of a new home in Houston in November was $427,038, down from $429,205 in October.
The report points to a combination of rising inventory and slowing demand for the plateauing of prices in the Houston area. Much of the slowdown in demand stems from spiking interest rates…more