New Construction, Affordability Draws Buyers to the Burbs

Houston Association of Realtors


Information below is from HAR's latest quarterly report.
"HOUSTON — (April 29, 2024) — New home construction and affordable housing options are continuing to lure a surge of sales activity to Houston’s suburban communities, according to the Houston Association of Realtors’ (HAR’s) latest Hottest Communities in the Houston Area report.
Porter/New Caney West, a growing community located about 30 miles northeast of downtown Houston, had the largest percentage increase of home sales in the first quarter of 2024, with transactions up 121.0 percent year-over-year. The Montgomery County community’s ranking climbed three spots from last quarter when it ranked as the fourth hottest community in the Houston area. The average home price in this community was $283,343. 
Conroe Southeast, also located in Montgomery County, ranked second on the list with transactions increasing 85.7 percent year-over-year. The average price of a home in this area was $313,388.
New construction made up 68.0 percent of homes sales in both Porter/New Caney West and Conroe Southeast in the first quarter of this year. Among the top five communities highlighted in the report, new home sales represented at least half of the total home sales during the first quarter.
Affordable housing was also a big draw for homebuyers. Nine of the top 10 communities in the report had average home prices below the Houston area’s average of $412,464, according to HAR’s March 2024 Housing Market Update
“We’re seeing a trend of consumers prioritizing affordability without sacrificing lifestyle,” said HAR Chair Thomas Mouton with Century 21 Exclusive Properties. “Many of these suburban communities are responding with a surge of new construction, offering modern homes at attractive price points.”
The report also looked at the hottest luxury communities in the Greater Houston area where homes are priced over $1 million. Memorial West had the largest percentage increase of home sales during the first quarter of 2024 with home sales up 33.3 percent compared to last year. The average home price in this community was $1,136,141."


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