Despite low inventory, Houston home sales continued to rise in March. Many home buyers are finding the market very frustrating due to bidding wars, homes going under contract in a very short time and rising interest rates.
Single-famiily home sales increased 4.1 percent compared to March 2021. On a year-to-date basis, home sales are 10.8 percent ahead of last year’s pace.
There was an increase of sales in all price ranges during the month of March. Months of inventory remained at 1.3. Days on the market decreased to 38.
On another note, homeowners should be receiving their 2022 tax appraisals. Please feel free to call us anytime to discuss your appraisal, buying, selling or just to say hello. We love to hear from you!
Per HAR/MLS:
Category | Jan. 2022 | Feb. 2022 | Mar. 2022 | Apr. 2022 | May 2022 | June 2022 | July 2022 | Aug. 2022 | Sept. 2022 | Oct. 2022 | Nov. 2022 | Dec. 2022 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Property Sales | 8,134 | 9,299 | 12,149 | 11,384 | 11,980 | 11,921 | 10,180 | 10,157 | 9,387 | 8,223 | 7,171 | 7,634 |
Total Active Listings | 21,643 | 20,620 | 20,923 | 22,475 | 24,301 | 29,344 | 33,711 | 34,458 | 35,694 | 36,751 | 36,434 | 33,776 |
Single-Family Home Sales | 6,451 | 7,372 | 9,693 | 9,079 | 9,627 | 9,728 | 8,370 | 8,241 | 7,664 | 6,641 | 5,827 | 6,378 |
Townhome/Condominium Sales | 555 | 652 | 855 | 809 | 821 | 748 | 660 | 683 | 597 | 540 | 436 | 432 |
Single-Family Months of Inventory | 1.4 | 1.3 | 1.3 | 1.4 | 1.6 | 2.0 | 2.5 | 2.5 | 2.7 | 2.8 | 2.9 | 2.7 |
Single-Family Pending Sales | 9,271 | 9,301 | 10,616 | 10,201 | 10,353 | 9,181 | 8,330 | 8,520 | 7,324 | 6,666 | 5,937 | 5,493 |
Days on Market | 39 | 41 | 38 | 33 | 29 | 28 | 26 | 31 | 37 | 43 | 48 | 57 |
Price Range | Jan. 2022 | Feb. 2022 | Mar. 2022 | Apr. 2022 | May 2022 | June 2022 | July 2022 | Aug. 2022 | Sept. 2022 | Oct. 2022 | Nov. 2022 | Dec. 2022 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
$1 - $99,999 | 41 | 28 | 33 | 34 | 29 | 26 | 22 | 30 | 27 | 27 | 27 | 25 |
$100,000 - $149,999 | 103 | 118 | 145 | 118 | 110 | 102 | 109 | 120 | 100 | 88 | 89 | 105 |
$150,000 - $249,999 | 1,248 | 1,081 | 1,437 | 1,112 | 1,100 | 1,059 | 939 | 1,103 | 1,001 | 978 | 824 | 931 |
$250,000 - $499,999 | 3,121 | 3,733 | 4,740 | 4,351 | 4,615 | 4,907 | 4,190 | 4,128 | 3,833 | 3,357 | 2,918 | 3,091 |
$500,000 - $749,999 | 551 | 741 | 1,016 | 1,087 | 1,236 | 1,280 | 1,033 | 1,000 | 851 | 703 | 608 | 727 |
$750,000 and above | 291 | 390 | 583 | 635 | 756 | 720 | 533 | 505 | 485 | 364 | 322 | 381 |
Many homebuyers are attracted to stucco clad homes. Stucco construction is beautiful to the eye, but many homeowners do not understand the pitfalls in the moist Texas climate.
WHAT IS STUCCO?
There are two types of stucco, traditional masonry and synthetic EIFS.
Traditional Masonry Stucco
Traditional stucco is a mix of Portland cement, limestone powder, sand, and water. It is applied to a structure using a 3-coat system that puts the stucco mix over a base mesh. It is then spread with the trowel over the surface. Textured finishes and colors can be added to enhance the appearance. This type of stucco is hard, but brittle. It is fire resistant, absorbs water and dries easily due to its porous nature. This type of stucco is susceptible to surface cracks and chips.
EIFS – Synthetic Stucco
As mentioned above, traditional masonry stucco utilizes natural ingredients and mesh. EIFS, External Insulation and Finishing Systems, stucco uses layers that add in synthetic materials. EIFS consists of basic cement stucco, various fibers and synthetic acrylic materials. It is made by applying an acrylic polymer coat over fiberglass mesh and foam board. The synthetic elements make it durable and flexible. Synthetic stucco is not as heavy as masonry which tends to make it weaker. It is a single coat system versus the 3-coat system that is used for traditional stucco. EIFS is less susceptible to cracks, but is more prone to be damaged by hail, birds or other objects. Synthetic stucco does not insulate like cement mixed stucco and has limited texture choices. It repels moisture, but does not completely prevent water intrusion.
STUCCO IN TEXAS
Stucco can be used in Texas if it is properly installed and maintained. Many homeowners and Realtors do not fully realize the importance of stucco maintenance. Furthermore, many buyers and agents do not know that stucco should be thoroughly inspected by a trained stucco inspector during the termination option period.
As mentioned previously, stucco is very porous. This quality is not always ideal for Texas cities that experience frequent rainfall and high humidity. If stucco is not properly installed or maintained, a moist climate can be detrimental to stucco construction. Unlike wood and brick, stucco is known for retaining water inside of walls. When stucco structures have proper ventilation and water repellent designs, moisture is less likely to. When stucco is not properly installed and/or maintained, water can accumulate inside wood frames, creating conditions that lead to rotting, mold growth, insects, and other conditions.
HOW TO RECOGNIZE ISSUES AND PROPERLY MAINTAIN STUCCO
Many times stucco issues occur below windows and/or where rain drains from the roof and down the wall. If the home is not regularly caulked and sealed, moisture can get behind the siding via broken caulk joints, poorly sealed windows and penetrations. When this happens, the moisture becomes trapped. To prevent issues, inspect and repair/maintain stucco on a regular basis.
This is not an exhaustive list, but will help you get started on your stucco maintenance journey. If you see the slightest issue with your stucco, it is best to call a trained stucco contractor to repair as soon as possible. This will help prevent problems from getting too costly.
If buying or selling a stucco home, make sure your Realtor can properly advise you. Your agent should understand stucco and be able to help you find qualified professionals to inspect and repair. Never buy a home without having it properly inspected.
Leslie Lerner and Leslie Lerner Properties agents provide flat fee listings and rebated commissions, but they are eager to share their knowledge and experience to help you make wise decisions when selling or purchasing a home. The service provided to clients is never discounted or based on the commission structure.