Houston-The Woodlands-Sugar Land Home Prices Up 2.9% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its August 2024 Home Price Index (HPI) report, showing the Houston-The Woodlands-Sugar Land market experienced a 2.9% year-over-year increase in home prices. Nationally, annual house price appreciation slowed for the eighth consecutive month, approaching the pre-pandemic average of 3.5%.
Key findings include:
- Houston-The Woodlands-Sugar Land saw a 0.2% month-over-month increase
- National HPI increased 4.5% year-over-year and 0.1% month-over-month
- Starter home prices in the Houston area rose 2.7%, mid-tier 3.0%, and luxury tier 4.2%
Chief Economist Mark Fleming noted that housing demand remains strained due to high mortgage rates and prices, while supply has increased. The report also highlights resilient first-time buyer demand in more affordable markets.
First American Data & Analytics ha pubblicato il suo rapporto sull'Home Price Index (HPI) di agosto 2024, rivelando che il mercato di Houston-The Woodlands-Sugar Land ha registrato un incremento del 2,9% rispetto all'anno precedente nei prezzi delle case. A livello nazionale, l'apprezzamento annuale dei prezzi delle case è rallentato per l'ottavo mese consecutivo, avvicinandosi alla media pre-pandemia del 3,5%.
I principali risultati includono:
- Houston-The Woodlands-Sugar Land ha registrato un incremento dello 0,2% mese su mese
- L'HPI nazionale è aumentato del 4,5% su base annuale e dello 0,1% su base mensile
- I prezzi delle case di partenza nell'area di Houston sono aumentati del 2,7%, quelli di fascia media del 3,0% e quelli di lusso del 4,2%
Il Chief Economist Mark Fleming ha osservato che la domanda abitativa rimane tesa a causa dei tassi ipotecari e dei prezzi elevati, mentre l'offerta è aumentata. Il rapporto evidenzia anche una domanda resiliente da parte dei compratori alle prime armi in mercati più accessibili.
First American Data & Analytics publicó su informe del índice de precios de viviendas (HPI) de agosto de 2024, mostrando que el mercado de Houston-The Woodlands-Sugar Land experimentó un aumento del 2.9% interanual en los precios de las viviendas. A nivel nacional, la apreciación de precios de viviendas se ralentizó por octavo mes consecutivo, acercándose al promedio prepandémico del 3.5%.
Los hallazgos clave incluyen:
- Houston-The Woodlands-Sugar Land vio un aumento del 0.2% mes a mes
- El HPI nacional aumentó un 4.5% interanual y un 0.1% mes a mes
- Los precios de las viviendas de entrada en el área de Houston aumentaron un 2.7%, los de nivel medio un 3.0% y los de lujo un 4.2%
El economista jefe Mark Fleming indicó que la demanda de vivienda sigue siendo tensa debido a las altas tasas hipotecarias y precios, mientras que la oferta ha aumentado. El informe también destaca la demanda resiliente de los compradores primerizos en mercados más asequibles.
퍼스트 아메리칸 데이터 & 분석는 2024년 8월 주택 가격 지수(HPI) 보고서를 발표하며, 휴스턴-우드랜즈-슈가 랜드 시장이 주택 가격에서 전년 대비 2.9% 증가했다고 밝혔습니다. 전 국가적으로, 연간 주택 가격 상승률은 여덟 번째 연속으로 둔화되며, 팬데믹 이전의 평균인 3.5%에 근접하고 있습니다.
주요 결과는 다음과 같습니다:
- 휴스턴-우드랜즈-슈가 랜드는 월별로 0.2% 증가했습니다.
- 국가 HPI는 연간 4.5% 증가하고 월별로 0.1% 증가했습니다.
- 휴스턴 지역의 저가 주택 가격은 2.7%, 중간 가격대는 3.0%, 고급 주택은 4.2% 상승했습니다.
최고 경제학자인 마크 플레밍은 주택 수요가 높은 모기지 금리와 가격으로 인해 여전히 긴축되어 있다고 언급하며, 공급이 증가했다고 설명했습니다. 이 보고서는 또한 더 저렴한 시장에서의 첫 주택 구매자 수요가 강하다는 점을 강조하고 있습니다.
First American Data & Analytics a publié son rapport sur l'Indice des Prix des Maisons (HPI) d'août 2024, montrant que le marché de Houston-The Woodlands-Sugar Land a connu une augmentation de 2,9 % par rapport à l'année précédente des prix des maisons. Au niveau national, l'appréciation annuelle des prix des maisons a ralenti pour le huitième mois consécutif, atteignant la moyenne d'avant la pandémie de 3,5 %.
Les principaux résultats comprennent :
- Houston-The Woodlands-Sugar Land a enregistré une augmentation de 0,2 % par rapport au mois précédent
- L'HPI national a augmenté de 4,5 % sur une base annuelle et de 0,1 % sur une base mensuelle
- Les prix des maisons pour primo-accédants dans la région de Houston ont augmenté de 2,7 %, ceux de la catégorie intermédiaire de 3,0 % et ceux du segment de luxe de 4,2 %
Le chef économiste Mark Fleming a noté que la demande de logements reste tendue en raison des taux hypothécaires et des prix élevés, tandis que l'offre a augmenté. Le rapport souligne également la résilience de la demande des primo-accédants dans des marchés plus abordables.
First American Data & Analytics hat seinen Bericht zum Home Price Index (HPI) für August 2024 veröffentlicht, der zeigt, dass der Markt Houston-The Woodlands-Sugar Land einen jährlichen Anstieg von 2,9% bei den Wohnungspreisen verzeichnete. Auf nationaler Ebene verlangsamte sich der jährliche Anstieg der Wohnungspreise im achten Monat in Folge und nähert sich dem pandemievorangegangenen Durchschnitt von 3,5%.
Wichtige Ergebnisse sind:
- Houston-The Woodlands-Sugar Land verzeichnete einen Anstieg von 0,2% im Monatsvergleich
- Der nationale HPI stieg im Jahresvergleich um 4,5% und im Monatsvergleich um 0,1%
- Die Preise für Einsteigerhäuser in der Region Houston stiegen um 2,7%, im mittleren Preissegment um 3,0% und im Luxussegment um 4,2%
Chefökonom Mark Fleming stellte fest, dass die Nachfrage nach Wohnraum angespannt bleibt aufgrund hoher Hypothekenzinsen und Preise, während das Angebot gestiegen ist. Der Bericht hebt auch die widerstandsfähige Nachfrage von Erstkäufern in erschwinglicheren Märkten hervor.
- None.
- None.
Annual House Price Growth Nears Return to Historical Norms Nationally
—Supply and Demand Dynamics Favor Ongoing House Price Slowdown, Even as Mortgage Rates Fall, says Chief Economist Mark Fleming—
August1 Home Price Index
|
|
Metric |
Change in HPI |
July-August 2024 (month over month) |
+2.9 percent |
August 2023-August 2024 (year over year) |
+0.2 percent |
National HPI |
|
Metric |
Change in HPI |
July-August 2024 (month over month) |
+0.1 percent |
August 2023-August 2024 (year over year) |
+4.5 percent |
Chief Economist National HPI Analysis:
“Annual house price appreciation nationally slowed for the eighth consecutive month, inching closer to the pre-pandemic historical average of approximately 3.5 percent. Housing demand remains strained under the pressure of elevated mortgage rates and high prices, while for-sale inventory has increased compared to last year. Sluggish demand combined with increasing supply is a recipe for cooling home price appreciation,” said Mark Fleming, chief economist at First American. “The key question moving forward is whether the recent, and potentially ongoing, downward trend in mortgage rates fueled by the Fed’s widely expected interest rate cut will be enough to bring buyers off the sidelines. But most buyers are also sellers, and they will remain significantly rate locked-in by their current low-rate mortgages, so modestly lower rates may not spur significant numbers of buyers into the market.”
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 |
|
|
|
|
“Potential first-time home buyers suffer the most from affordability challenges, as they lack the equity from an existing home to bring to the closing table. Yet, first-time home buyer demand appears to be resilient, since annual price growth in the starter home price tier remained positive in 25 of the top 30 markets we track in August,” said
August 2024 First American Data & Analytics Price Tier HPI Highlights
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 |
|
+9.0 percent |
+4.9 percent |
+5.1 percent |
|
+8.9 percent |
+5.2 percent |
+6.3 percent |
|
+8.8 percent |
+3.8 percent |
+3.4 percent |
|
+8.4 percent |
+5.7 percent |
+4.2 percent |
|
+7.0 percent |
+6.7 percent |
+5.7 percent |
Additional August 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+8.5 percent |
|
+6.8 percent |
|
+6.2 percent |
|
+6.2 percent |
|
+6.2 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decrease in HPI |
|
|
-4.1 percent |
|
-1.6 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 October 14, 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.
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Source: First American Data & Analytics
FAQ
What was the year-over-year home price change for Houston-The Woodlands-Sugar Land in August 2024?
How did national home prices change from August 2023 to August 2024?
What were the price changes across different tiers in the Houston-The Woodlands-Sugar Land market?
Which Core-Based Statistical Area (CBSA) had the highest year-over-year increase in starter tier HPI?
What factors are influencing the housing market according to First American's Chief Economist?
