- Housing News
- November 5, 2021
Texas Home Sales Slowing for First Time in More Than a Year
The Texas housing market, heated by migration, is now slowing for the first time in over a year.
Ben is the Managing Editor for New American Funding. In this role, Ben helps with content creation, news coverage, and serving our audience of borrowers, real estate agents, loan originators, and other housing professionals. Prior to joining New American Funding, Ben worked at HousingWire, a top housing media outlet. Ben joined HousingWire in 2014 as a reporter and was later promoted to Senior Financial Reporter, Editor, and eventually to Managing Editor. During his time at HousingWire, Ben helped elevate HousingWire to national acclaim and record traffic growth. He was also honored with multiple awards for his work, including an Eddie Award from Folio Magazine and a Gold Award for Best Trade Magazine Story from the National Association of Real Estate Editors.
The Texas housing market, heated by migration, is now slowing for the first time in over a year.
The mortgage market, driven by refinances due to low interest rates for two years, is now shifting back to purchases.
August saw a rise in new home demand, but September's report shows a decline, suggesting August's increase may have been an outlier.
Home sales typically slow in winter as buyers and sellers focus on the holidays, and new data suggests this trend may continue this year.
Relief may be on the way for the housing market, as a new report shows single-family home construction is set to rise significantly from last year.
They're expanding these programs to help more people benefit from lower interest rates.
Existing home sales have been on a rollercoaster, falling for four months, rising in June and July, dropping in August, and now climbing again.
Mortgage credit availability increased in September, making it slightly easier to get a mortgage than in August.
The mortgage market shifted to refinances in August, but the change was brief as purchase lending remains the focus.
Idaho's housing markets have been among the hottest in the country, and that trend is likely to continue next year.