September Newsletter

September Newsletter

Fun Fact…

Houston’s population has grown by nearly 10% since 2010, census data shows.
Houston’s Makeup: Latino 44.0% Whites 23.7% Black 22.1% Asian 7.3%

Houston has long been considered one of the youngest, fastest-growing, and most diverse cities in the nation. With no ethnic majority, where nearly one-in-four residents are foreign-born and more than 145 languages are spoken. Many reports and analyses in recent years have named Houston among the most diverse cities in the U.S., often putting the Bayou City in the top spot. A true cultural mosaic, Houston’s restaurants, shops, neighborhoods and festivals reflect its many global influences. Click the picture to learn more…

Looking for a General Contractor, Security Consultant, Pest Control Technician or another service professional?
Click the picture to check out our list of qualified service partners…

Likewise, if you are willing to give a seller more time to close, he or she might sweeten the deal by leaving behind a hot tub or offering a repair credit. If you want to ask for reasonable concessions when you buy a home, this is the time to do it.

Deborah Kearns is a staff writer at NerdWallet, a personal finance website. The article 4 Reasons to Buy a Home After School Starts originally appeared on NerdWallet.

September Residential Market Review: Courtesy of Har.com. Please click on the logo to learn more.

HOUSTON — (September 8, 2021)After a down July, sales return to positive territory, housing supply improves and prices moderate while continuing to best last year. After the Houston housing market’s 13-month run of positive sales was abruptly interrupted in July, August saw a return to increased sales volume with inventory levels improving and prices showing signs of moderation while remaining higher than last year. These trends were facilitated by an influx of new listings and strong ongoing buyer demand. July’s sales decline was an anomaly with volume that could not rival the unprecedented surge of closings in July 2020 following COVID-related market disruptions. According to the Houston Association of Realtors (HAR) August 2021 Market Update, single-family homes sales rose 8.5 percent versus last August, with 9,890 units sold. That is up from 9,118 sales in August 2020. On a year-to-date basis, local home sales are 17.4 percent ahead of 2020’s record pace. Homes priced from $500,000 to $750,000 held the lion’s share of sales volume with a 48.5 percent year-over-year increase. That was followed by the $250,000 to $500,000 segment, which rose 31.8 percent. The luxury segment, comprised of homes priced at $750,000 and above, saw a 30.5 percent year-over-year jump in sales. The single-family home average price increased 14.0 percent to $380,233 and the median price climbed 15.2 percent to $310,000. Pricing has eased a bit since setting record highs in June. Sales of all property types rose 9.2 percent year-over-year, totaling 12,036. Total dollar volume for August shot up 26.7 percent to $4.3 billion.

  September Commercial Real Estate Highlights: Courtesy of BISNOW. Please click on the logo to learn more.

Texas Ranked As The Best State To Start A Small Business – July 20, 2021 –“Texas is the best U.S. state to start a small business in 2021, accounting for key factors such as business environment, access to resources and business costs, according to a new study from WalletHub.The Lone Star State ranked second overall for its business environment, only behind Georgia. Several metrics were taken into account, including growth in the number of small businesses, entrepreneurship, job growth and average length of the workweek. When it came to access to resources, Texas ranked 12th, reflecting metrics such as financing accessibility, human capital availability, higher education assets and the share of college-educated population.”

September Mortgage News & Education: Courtesy of thebalance.comPlease click on the logo to learn more.

Home Sale Volume Continues To Recover as Listings Grow – Sales rise as inventories improve. Updated August 23, 2021k – Key Takeaways – The volume of home sales bounced back a bit more, rising 2% in July as buyers had a few more choices. The supply of homes for sale rose for a fifth month, putting this winter’s record shortages further in the rearview mirror but still staying far below normal levels. The increase in inventory provides a bit more balance to the market, a turn that may alleviate increasingly unaffordable prices. Sales of existing homes increased 2% from June to July, rising to a seasonally adjusted annual rate of 5.99 million—the highest for any month since March, the National Association of Realtors said in a report Monday.  That includes single-family homes, townhomes, condos and co-ops.1The number of homes for sale rose too, rising 7.3% to 1.32 million in the fifth month of increases. While that’s still not much by historical standards, it’s the most on the market since October. It would take 2.6 months to exhaust that inventory at the current rate of sales, an improvement from the 2.5-month supply logged in June and the most in 10 months.” 

Additional Resources: Here are a few references that we have found helpful in understanding our markets and economy… 

  Giving Back: Courtesy of thebalance.comPlease click on the logo to learn more.

I want to bring your attention to our charity commitment, UnBound. Through the generous contributions of more than 260,000 sponsors that make this work possible, Unbound celebrates more than 30,000 children, elders and families in Asia, Africa and Latin America. Chris-Properties has been a contributing sponsor since 2017. Will you join us?

As we continue to gain strength as a community, city, state and nation, please let us know how you are doing and how we can help you!