The price of a new home in Houston rose slightly in April, while the number of pending new-home sales dropped in Houston and other large Texas metros, a new report showed.
The average new home price for April reached $360,868 in Houston, according to the HomesUSA.com New Homes Sales Index. The index tracks a 12-month rolling average for new homes listed in the local Multiple Listing Services in Houston, Dallas-Fort Worth, Austin and San Antonio. The average price in Houston was up from $359,528 in March.
The Dallas area boasted the highest average cost of a new home, coming in at $374,847 in April, followed by Austin at $368,102, according to the report. San Antonio had an average sales price of $297,493.
The Houston region posted a 12-month rolling average of pending new-home sales in April of 1,160, down from 1,265 pending sales in March. Texas pending new-home sales for April were 3,357, compared with 3,654 in March.
New-homes sales for the Houston area were flat in April at 1,343, just five more than in March.
“The Houston new-home market, despite showing continued signs of flattening last month, is still demonstrating a strong overall volume of new-home sales here,” Ben Caballero, owner of HomesUSA.com, said in a statement. “The dark cloud on the horizon remains a declining pending home sales numbers; that’s troubling.”
The average days on market for new-home sales in Houston was up slightly in April at 136.91 days. New homes stay on the market longer than existing homes because they are often put on the market during early stages of construction, according to Caballero.
Tribune Content Agency