Houston-The Woodlands-Sugar Land Home Prices Up 3.3% Year Over Year in July, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its July 2024 Home Price Index (HPI) report, revealing that Houston-The Woodlands-Sugar Land home prices increased by 3.3% year-over-year. The national HPI showed a 5.3% year-over-year increase, marking the seventh consecutive month of slowing annualized house price appreciation.
Chief Economist Mark Fleming noted that elevated mortgage rates have driven affordability to near-record lows, contributing to a cooling but still positive pace of appreciation. The report segments home price changes into three tiers: starter, mid-tier, and luxury. In the Houston-The Woodlands-Sugar Land metro area, the luxury tier saw the highest increase at 4.5%, followed by the starter tier at 3.8%, and the mid-tier at 2.4%.
Among other markets, Pittsburgh showed the highest increase in the starter tier HPI at 13.5%, while Anaheim, Calif. led overall with a 9.9% increase. Conversely, Austin, Texas experienced a 1% decrease in HPI.
First American Data & Analytics ha pubblicato il suo rapporto sul Home Price Index (HPI) di luglio 2024, rivelando che i prezzi delle case nella zona di Houston-The Woodlands-Sugar Land sono aumentati del 3,3% rispetto all'anno precedente. L'HPI nazionale ha registrato un incremento del 5,3% su base annua, segnando il settimo mese consecutivo di rallentamento nell'apprezzamento annuale dei prezzi delle case.
Il Chief Economist Mark Fleming ha osservato che i tassi ipotecari elevati hanno portato l'accessibilità a livelli quasi record, contribuendo a un raffreddamento ma comunque a un ritmo positivo di apprezzamento. Il rapporto segmenta le variazioni dei prezzi delle case in tre categorie: inizio, medio e lusso. Nell'area metropolitana di Houston-The Woodlands-Sugar Land, il settore lusso ha registrato l'incremento più alto al 4,5%, seguito dal settore di inizio con il 3,8% e dal medio con il 2,4%.
Tra gli altri mercati, Pittsburgh ha mostrato il più alto incremento nel settore di inizio dell'HPI con il 13,5%, mentre Anaheim, California, ha guidato complessivamente con un aumento del 9,9%. Al contrario, Austin, Texas, ha registrato una diminuzione dell'1% nell'HPI.
First American Data & Analytics ha publicado su informe del Home Price Index (HPI) de julio de 2024, revelando que los precios de las viviendas en el área de Houston-The Woodlands-Sugar Land aumentaron un 3.3% en comparación con el año anterior. El HPI nacional mostró un aumento del 5.3% interanual, marcando el séptimo mes consecutivo de desaceleración en la apreciación anualizada de los precios de las casas.
El economista jefe Mark Fleming señaló que las tasas hipotecarias elevadas han llevado la asequibilidad a niveles casi récord, contribuyendo a un enfriamiento, pero todavía a un ritmo positivo de apreciación. El informe segmenta los cambios en los precios de las viviendas en tres categorías: inicial, media y lujo. En el área metropolitana de Houston-The Woodlands-Sugar Land, el sector de lujo registró el mayor aumento con un 4.5%, seguido por el sector inicial con un 3.8% y el sector medio con un 2.4%.
Entre otros mercados, Pittsburgh mostró el mayor aumento en el HPI del sector inicial con un 13.5%, mientras que Anaheim, California, lideró en general con un aumento del 9.9%. Por el contrario, Austin, Texas, experimentó una disminución del 1% en el HPI.
First American Data & Analytics는 2024년 7월 주택 가격지수(HPI) 보고서를 발표했으며, 휴스턴-우드랜드-설탕땅 지역의 주택 가격이 전년 대비 3.3% 상승했다고 밝혔습니다. 전국 HPI는 연간 5.3% 증가를 보여주었으며, 이는 집 값 상승률이 7개월 연속 둔화되었다는 것을 의미합니다.
최고 경제학자 마크 플레밍은 높은 주택 담보 대출 금리가 주택 구매 가능성을 거의 기록적인 저점으로 낮추었고, 이는 여전히 긍정적인 상승률에 기여하고 있다고 언급했습니다. 이 보고서는 주택 가격 변화를 스타터, 중급 및 고급의 세 가지 계층으로 나눕니다. 휴스턴-우드랜드-설탕땅 지역에서 고급 부문은 4.5%로 가장 높은 증가율을 보였다, 다음은 스타터 부문 3.8%, 중급 부문 2.4%입니다.
다른 시장 중 피츠버그는 스타터 부문의 HPI에서 13.5%로 가장 높은 증가율을 보였다, 반면 캘리포니아 애너하임은 전체적으로 9.9% 증가로 선두를 차지했다. 반면, 텍사스 오스틴은 HPI에서 1% 감소를 경험했다.
First American Data & Analytics a publié son rapport sur l'indice des prix des logements (HPI) de juillet 2024, révélant que les prix des maisons dans la région de Houston-The Woodlands-Sugar Land ont augmenté de 3,3 % par rapport à l'année précédente. L'HPI national a montré une augmentation de 5,3 % d'une année sur l'autre, marquant le septième mois consécutif d'un ralentissement de l'appréciation des prix des maisons.
Le chef économiste Mark Fleming a noté que des taux hypothécaires élevés ont réduit l'accessibilité à des niveaux presque sans précédent, contribuant à un refroidissement mais toujours à un rythme positif d'appréciation. Le rapport segmente les changements de prix des maisons en trois niveaux : début, intermédiaire et luxe. Dans la région métropolitaine de Houston-The Woodlands-Sugar Land, le segment de luxe a connu la plus forte augmentation avec 4,5%, suivi du segment de début avec 3,8% et du segment intermédiaire avec 2,4%.
Parmi d'autres marchés, Pittsburgh a enregistré la plus forte hausse dans la catégorie des prix d'entrée avec 13,5%, tandis que Anaheim, Californie, a mené l'ensemble avec une augmentation de 9,9%. En revanche, Austin, Texas, a connu une baisse de 1% dans l'HPI.
First American Data & Analytics hat seinen Bericht zum Home Price Index (HPI) für Juli 2024 veröffentlicht, der zeigt, dass die Preise für Wohnimmobilien im Gebiet Houston-The Woodlands-Sugar Land im Vergleich zum Vorjahr um 3,3% gestiegen sind. Der nationale HPI verzeichnete einen Anstieg von 5,3% im Jahresvergleich, was den siebten Monat in Folge mit einem langsamer werdenden jährlichen Anstieg der Immobilienpreise bedeutet.
Chefökonom Mark Fleming stellte fest, dass die hohen Hypothekenzinsen die Erschwinglichkeit auf fast rekordverdächtige Tiefstände gedrückt haben, was zu einem Abkühlen des, jedoch immer noch positiven, Anstiegs geführt hat. Der Bericht unterteilt die Veränderung der Immobilienpreise in drei Kategorien: Starter, Mittelklasse und Luxus. Im metropolitanen Gebiet Houston-The Woodlands-Sugar Land verzeichnete die Luxusklasse den höchsten Anstieg mit 4,5%, gefolgt von der Starterklasse mit 3,8% und der Mittelklasse mit 2,4%.
Unter anderen Märkten zeigte Pittsburgh den höchsten Anstieg im HPI der Starterklasse mit 13,5%, während Anaheim, Kalifornien, insgesamt mit einem Anstieg von 9,9% an der Spitze lag. Im Gegensatz dazu verzeichnete Austin, Texas, einen Rückgang von 1% im HPI.
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Slowdown in National House Price Growth Seeps into Seventh Straight Month
—House Prices in Several Top Markets are Now Falling, says Chief Economist Mark—
July1 Home Price Index
|
|
Metric |
Change in HPI |
June-July 2024 (month over month) |
+3.3 percent |
July 2023-July 2024 (year over year) |
+0.1 percent |
National HPI |
|
Metric |
Change in HPI |
June-July 2024 (month over month) |
+0.3 percent |
July 2023-July 2024 (year over year) |
+5.3 percent |
Chief Economist National HPI Analysis:
“July marked the seventh consecutive month of slowing annualized house price appreciation. Elevated mortgage rates have driven affordability to near-record lows, leaving many buyers on the sidelines and keeping sellers rate locked-in,” said Mark Fleming, chief economist at First American. “The combination of the severely unaffordable market conditions and the rate lock-in effect has largely frozen home buying and selling, contributing to the cooling but still positive pace of appreciation. However, the prospect of Federal Reserve interest rate cuts this fall has already sent mortgage rates lower in August, which may spur some buyers and sellers to act and begin to defrost market transaction volume.”
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 |
|
|
|
|
“While the national house price trend is interesting, real estate is inherently local and prices are not appreciating in all markets,” said
July 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 |
|
+13.5 percent |
+5.4 percent |
+2.9 percent |
|
+10.3 percent |
+3.9 percent |
+4.1 percent |
|
+7.5 percent |
+3.7 percent |
-1.7 percent |
|
+7.4 percent |
+9.4 percent |
+12.6 percent |
|
+7.4 percent |
+4.5 percent |
+0.7 percent |
Additional July 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+9.9 percent |
|
+6.9 percent |
|
+6.8 percent |
|
+6.7 percent |
|
+6.1 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decrease in HPI |
|
|
-1.0 percent |
|
-0.9 percent |
|
-0.7 percent |
HPI data for all 50 states and the largest 30 CBSAs by population is available here.
Next Release
The next release of the First American Data & Analytics House Price Index will take place the week of September 17, 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 prices 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 Financial Corporation
FAQ
What was the year-over-year home price change for Houston-The Woodlands-Sugar Land in July 2024?
How much did national home prices increase year-over-year in July 2024 according to First American (FAF)?
Which price tier saw the highest increase in Houston-The Woodlands-Sugar Land for July 2024?
What city had the highest overall HPI increase in July 2024 according to First American (FAF)?
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