Report: New homes in Houston taking longer to sell

Report: New homes in Houston taking longer to sell

New homes in the Houston region took nearly 5 days longer to sell and commanded slightly lower sales prices on average in April, a new report showed.

Time on the market rose from 140.76 days in March to 145.37 days in April, according the HomesUSA.com Index. The index tracks 12-month rolling averages for new homes listed in the local Multiple Listing Services for Texas’ four biggest markets.

Houston new home prices fell by $2,664 to an average of $354,750 for the 12-month period through April. Builders have been shifting to more entry-level houses.

Average prices in the Dallas-Fort Worth market, meanwhile, rose slightly to $357,340.

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Days on the market in the Dallas metro decreased to 114.53 days in April from 115.39 days in March.

"If you look at the trend lines over the last year, when it comes to the pace of new home sales, Dallas and Houston are going in the opposite direction," HomesUSA.com owner Ben Caballero said in an announcement.

"The strength of the Dallas-Fort Worth new home sales market continues to impress," he said, "and the slowing sales pace in Houston is looking more like a trend than a bump in the road."

There may still be a hurricane hangover causing people to hesitate buying in Houston, Caballero said.

Sales growth was relatively flat in the two biggest markets, with Houston new home sales totaling 1,207 in April, up from 1,198 sales in March.

Dallas-Fort Worth home sales in April were 1,338, down slightly from 1,340 sales in March.

Homes sales rose in both Austin and San Antonio to 644 and 483 respectively.

Caballero was recently named the top-ranked real estate agent in the world by the Guinness World Records based for selling 3,556 homes in 2016. Addison-based HomesUSA.com works with 64 homebuilders in Dallas-Fort Worth, Houston, Austin and San Antonio markets.

New homes typically take about 65 days longer to sell than existing homes, Caballero said. That’s because the homes are often put on the market during the early stages of construction.

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Marcia Mosley