Houston-The Woodlands-Sugar Land Home Prices Up 1.6% Year Over Year in September, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its September 2024 Home Price Index (HPI) report, revealing that Houston-The Woodlands-Sugar Land home prices increased 1.6% year-over-year. The national HPI showed a 3.9% year-over-year increase, marking the slowest pace since summer 2023. Chief Economist Mark Fleming noted that while home prices reached a new record high in September, the growth rate is slowing.
Key findings for the Houston metro area include:
- Month-over-month HPI change (August-September 2024): +0.3%
- Year-over-year price changes by tier: Starter homes +0.5%, Mid-tier +2.7%, Luxury +3.2%
Fleming suggests that lower mortgage rates have improved affordability, potentially stimulating demand in the coming months. He warns that if housing supply doesn't increase to meet this demand, price appreciation could accelerate again.
First American Data & Analytics ha pubblicato il rapporto sull'Indice dei Prezzi delle Case (HPI) di settembre 2024, rivelando che i prezzi delle case a Houston-The Woodlands-Sugar Land sono aumentati dell'1,6% rispetto all'anno precedente. L'HPI nazionale ha mostrato un incremento del 3,9% anno su anno, segnando il ritmo più lento da estate 2023. Il Capo Economista Mark Fleming ha notato che, mentre i prezzi delle case hanno raggiunto un nuovo record a settembre, il tasso di crescita sta rallentando.
Le principali scoperte per l'area metropolitana di Houston includono:
- Variazione mensile dell'HPI (agosto-settembre 2024): +0,3%
- Variazioni di prezzo anno su anno per categoria: Case di partenza +0,5%, Categoria media +2,7%, Lusso +3,2%
Fleming suggerisce che il calo dei tassi ipotecari ha migliorato l'accessibilità, stimolando potenzialmente la domanda nei prossimi mesi. Avverte che se l'offerta abitativa non aumenta per soddisfare questa domanda, l'apprezzamento dei prezzi potrebbe accelerare nuovamente.
First American Data & Analytics publicó su informe del Índice de Precios de Viviendas (HPI) de septiembre de 2024, revelando que los precios de las viviendas en Houston-The Woodlands-Sugar Land aumentaron un 1,6% en comparación con el año anterior. El HPI nacional mostró un aumento del 3,9% año tras año, marcando el ritmo más lento desde el verano de 2023. El Economista Jefe Mark Fleming señaló que, aunque los precios de las viviendas alcanzaron un nuevo récord en septiembre, la tasa de crecimiento está desacelerándose.
Los hallazgos clave para el área metropolitana de Houston incluyen:
- Cambio mensual del HPI (agosto-septiembre de 2024): +0,3%
- Cambios de precio año tras año por nivel: Viviendas iniciales +0,5%, Intermedias +2,7%, Lujo +3,2%
Fleming sugiere que las tasas hipotecarias más bajas han mejorado la asequibilidad, lo que podría estimular la demanda en los próximos meses. Advierte que si la oferta de vivienda no aumenta para satisfacer esta demanda, la apreciación de precios podría acelerarse nuevamente.
퍼스트 아메리칸 데이터 & 애널리틱스가 2024년 9월 주택 가격 지수(HPI) 보고서를 발표했으며, 휴스턴-우드랜드-슈가 랜드의 주택 가격이 작년 대비 1.6% 증가했다고 밝혔습니다. 전국 HPI는 전년 대비 3.9% 증가하여 2023년 여름 이후 가장 느린 증가율을 기록했습니다. 수석 경제학자인 마크 플레밍은 9월에 주택 가격이 새로운 최고치를 기록했지만, 성장률은 둔화되고 있다고 언급했습니다.
휴스턴 메트로 지역의 주요 발견 사항은 다음과 같습니다:
- 월별 HPI 변화 (2024년 8월-9월): +0.3%
- 계층별 가격 변화: 시작 주택 +0.5%, 중간 가격대 +2.7%, 고급 주택 +3.2%
플레밍은 낮은 모기지 금리가 주택 구매 가능성을 높여 향후 몇 달간 수요를 자극할 수 있다고 제안했습니다. 그러나 주택 공급이 이 수요를 충족하지 못하면 가격 상승이 다시 가속화될 수 있다고 경고합니다.
First American Data & Analytics a publié son rapport sur l'Indice des Prix des Maisons (HPI) de septembre 2024, révélant que les prix des maisons à Houston-The Woodlands-Sugar Land ont augmenté de 1,6% par rapport à l'année précédente. L'HPI national a montré une augmentation de 3,9% d'une année sur l'autre, marquant le rythme le plus lent depuis l'été 2023. L'économiste en chef Mark Fleming a noté que, bien que les prix des maisons aient atteint un nouveau record en septembre, le taux de croissance ralentit.
Les principales conclusions pour la région métropolitaine de Houston incluent :
- Changement mensuel de l'HPI (août-septembre 2024) : +0,3%
- Changements de prix d'une année sur l'autre par catégorie : Maisons de première accession +0,5%, Moyenne +2,7%, Luxe +3,2%
Fleming suggère que la baisse des taux hypothécaires a amélioré l'accessibilité, ce qui pourrait stimuler la demande dans les mois à venir. Il met en garde que si l'offre de logements n'augmente pas pour répondre à cette demande, l'appréciation des prix pourrait à nouveau s'accélérer.
First American Data & Analytics hat seinen Bericht über den Hauspreisindex (HPI) für September 2024 veröffentlicht und festgestellt, dass die Hauspreise in Houston-The Woodlands-Sugar Land im Jahresvergleich um 1,6% gestiegen sind. Der nationale HPI zeigte einen Anstieg von 3,9% im Jahresvergleich, was das langsamste Tempo seit dem Sommer 2023 darstellt. Chefökonom Mark Fleming bemerkte, dass die Hauspreise im September einen neuen Rekordhoch erreichten, das Wachstum jedoch langsamer wird.
Wichtige Erkenntnisse für das Großraum Houston sind:
- Monatliche HPI-Änderung (August-September 2024): +0,3%
- Jährliche Preisänderungen nach Preiskategorien: Einsteigerhäuser +0,5%, Mittelklasse +2,7%, Luxus +3,2%
Fleming schlägt vor, dass niedrigere Hypothekenzinsen die Erschwinglichkeit verbessert haben, was die Nachfrage in den kommenden Monaten ankurbeln könnte. Er warnt jedoch, dass, wenn das Wohnungsangebot nicht steigt, um dieser Nachfrage gerecht zu werden, die Preissteigerung erneut beschleunigt werden könnte.
- None.
- None.
House Price Growth Nationally Slips to Slowest Pace in Over a Year
—Slowdown Likely to Continue in the Near Term, but a Re-Acceleration May be on the Horizon, says Chief Economist Mark Fleming—
September1 Home Price Index
|
|
Metric |
Change in HPI |
August-September 2024 (month over month) |
+0.3 percent |
September 2023-September 2024 (year over year) |
+1.6 percent |
National HPI |
|
Metric |
Change in HPI |
August-September 2024 (month over month) |
+0.1 percent |
September 2023-September 2024 (year over year) |
+3.9 percent |
Chief Economist National HPI Analysis:
“Annual house price appreciation nationally slowed for the ninth consecutive month, falling to the slowest pace since the summer of 2023,” said Mark Fleming, chief economist at First American. “While home prices reached a new record high in September, the pace of growth continues to slow. Lower mortgage rates have improved affordability, which will likely stimulate demand in the coming months, especially if rates continue to ease. If housing supply does not increase amid that potential increased demand, it’s possible that price appreciation could accelerate again.”
Year-Over-Year Price-Tier Data for the
The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.
CBSA |
Starter |
Mid-Tier |
Luxury |
Houston-The Woodlands Sugar Land |
|
|
|
“Price appreciation in 11 metros outpaced the national 3.9 percent annual increase, and house prices increased year over year in most markets we track as well,” said Fleming. “The ongoing price pressures in the starter home price tier across many markets highlights strong demand from first-time home buyers now armed with improved house-buying power, who face limited inventory at this price point.”
September 2024 First American Data & Analytics Price Tier HPI Highlights2
Core-Based Statistical Areas (CBSAs) Ranked by Greatest Year-Over-Year Increases in Starter Tier HPI |
|||
CBSA |
Change in Starter Tier HPI |
Change in Mid-Tier HPI |
Change in Luxury Tier HPI |
|
+10.5 percent |
+2.6 percent |
+1.3 percent |
|
+8.0 percent |
+4.0 percent |
+4.9 percent |
|
+7.1 percent |
+6.3 percent |
+5.3 percent |
|
+6.9 percent |
+3.4 percent |
+5.5 percent |
|
+6.7 percent |
+7.7 percent |
+4.1 percent |
Additional September 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+7.0 percent |
|
+6.3 percent |
|
+5.3 percent |
|
+5.2 percent |
|
+5.1 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decrease in HPI |
|
|
-5.8 percent |
|
-0.3 percent |
|
-0.3 percent |
HPI data for all 50 states and the largest 30 CBSAs by population is available here.
Visit the First American Economic Center for more research on housing market dynamics.
Next Release
The next release of the First American Data & Analytics House Price Index will take place the week of November 18, 2024.
First American Data & Analytics HPI Methodology
The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e. the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.
The HPI uses a repeat-sales methodology, which measures price changes for the same property over time using more than 46 million paired transactions to generate the indices. In non-disclosure states, the HPI utilizes a combination of public sales records, MLS sold and active listings, and appraisal data to estimate house prices. This comprehensive approach is particularly effective in areas where there is limited availability of accurate sale prices, such as non-disclosure states. Property type, price and location data are used to create more refined market segment indices. Real Estate-Owned transactions are not included.
Disclaimer
Opinions, estimates, forecasts and other views contained in this page are those of First American’s Chief Economist, do not necessarily represent the views of First American or its management, should not be construed as indicating First American’s business prospects or expected results, and are subject to change without notice. Although the First American Economics team attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2024 by First American. Information from this page may be used with proper attribution.
About First American Data & Analytics
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 8 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData®, First American TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of
1 The most recent index results are subject to revision as data from more transactions become available.
2 Note:
View source version on businesswire.com: https://www.businesswire.com/news/home/20241016670639/en/
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Corporate Communications
First American Financial Corporation
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Investor Relations
First American Financial Corporation
(714) 250-5214
Source: First American Data & Analytics
FAQ
What was the year-over-year home price change for Houston-The Woodlands-Sugar Land in September 2024?
How did national home prices change in September 2024 according to First American (FAF)?
What were the price tier changes for Houston-The Woodlands-Sugar Land in September 2024?
Which metro area had the highest starter tier HPI increase in September 2024?
What factors might influence future home price trends according to First American's chief economist?
