Houston New Home Prices Lead Texas In Gains

TEXAS (HomesUSA.com) – February 26, 2019 – The average new home price in Texas rose by nearly $1,500 to $358,880 in January, according to HomesUSA.com

The average price of a new home rose in Texas’ four largest markets in January, with Houston leading the gains, according to the the HomesUSA.com New Home Sales Index. Sales activity, meanwhile, fell slightly in Houston, mirroring the statewide trend.
Houston-area new home prices rose by $3,809 to an average of $361,231 in January, a gain of 1 percent from the prior month. San Antonio prices rose by $1,057, 0.4 percent, to $297,248. The average price in Austin rose by $195 to $368,931, while the Dallas average went up by $44 to $375,930.

The average new home price statewide rose by $1,446 to $358,880 in January, up 0.4 percent from $357,434 in December, according to the survey. The index tracks a 12-month rolling average of sales based on data from local Multiple Listing Services in Houston, North Texas, San Antonio and Austin.

Sales volume in the four largest markets was essentially flat in January compared December, with with each city experiencing a drop of six or fewer transactions.

“We’ve been on a record-breaking pace for new home sales for so long, it’s not surprising to see that the market appears to be leveling off,” HomesUSA.com owner Ben Caballero said in an announcement. “But we also are about to head into the spring sales season.”

HomesUSA.com lists and sells houses for more than 60 homebuilders in Texas.