Home sales declined 8.3% in Houston last month, with 7,163 closings — however, that was the third-highest sales volume in the country, trailing behind only Chicago and New York. According to the latest RE/MAX National Sales Report, Houston is also the city with the third-most new listings on the market. New listings there jumped 23.3% year over year in March, with 13,299 properties entered into the MLS. That hefty number of new listings boosted the greater Houston inventory to a 2.9-month supply, up 24.3% year over year. “As we move into what are normally the prime homebuying months, the incre ..read more

CoStar Group Inc., a global real estate information marketplace, will acquire Matterport, which pioneered the development of “digital twins”: the 3D capture method which can deliver photorealistic, virtual home tours. Founded in 2011, Matterport’s patented technology enables anyone to digitize a property using just about any camera, including ones found on smartphones. “CoStar Group and Matterport have nearly identical mission statements of digitizing the world’s real estate,” Andy Florance, founder and CEO of CoStar Group, said in a press release. “The world has changed and today, a Matterpor ..read more

Legend Homes unveiled plans for Ridgeland Hills, its seventh new-home community in Montgomery County. Located in Willis, Ridgeland Hills will include 127 lots with 36- and 40-foot homesites. Prices will start in the $227,000s. “Ridgeland Hills is the latest Legend Homes community to debut in the booming north Houston region,” Daniel Banes, Houston vice president of sales, said in a press release. “We’re proud to participate in this vital region’s growth and expansion and look forward to guiding customers on their journey to becoming proud homeowners.” Two model homes will open in May. Prospect ..read more

Available rental properties rose in March, providing a bountiful supply of single-family homes for Houston renters. According to the Houston Association of REALTORS®’ (HAR) latest Rental Market Update, new listings of single-family rentals rose 8.9% year over year, with 5,097 new listings added to the market. Meanwhile, leased listings increased by 4.8% year over year, with 3,989 leases signed, while the average lease price rose 5.3% to $2,262 (up from $2,149 in March 2023). “Spring is traditionally a busy time for the housing market, and this year, the Houston rental market is no exception ..read more

D.R. Horton unveiled plans for Silverthorne, a new community in Conroe. Located at FM 1484 and Wally Wilkerson Parkway, the 1,341-acre development will include approximately 2,500 homes upon completion. “We are excited about our newest flagship community in North Houston,” Soni Graves, city manager of northeast Houston for D.R. Horton, said in a press release. “Homebuyers will appreciate its convenient location and the relaxed, back-to-nature vibe we are envisioning.” Graves added that D.R. Horton has “put a lot of thought and care” in the planned amenities for Silverthorne, which include a re ..read more

New listings are “maintaining their lead over year-ago levels,” according to the latest Weekly Activity Snapshot from the Houston Association of REALTORS® (HAR). Realtors added 3,554 properties into the MLS during the week ended April 15, a 16.6% increase year over year. However, pending and closed listings both experienced annual declines. Pending listings fell 8.2% year over year, with 2,377 homes going under contract, while closings dropped 5.5%, with 1,645 homes sold. Meanwhile, listing views on HAR.com jumped 33% year over year. The post HAR: New listings maintain lead over year-ago level ..read more

Preleasing is underway at UNITi Montrose, a rental development from Civitas Capital Group and The Shelter Companies. The development offers a mix of co-living spaces, micro-units and traditional apartments. “We are thrilled to introduce UNITi Montrose to the Houston community,” Mark Drumm, managing partner and co-founder of The Shelter Companies, said in a press release. “This development represents a new area in urban living, where convenience, community and value converge.” Located at 701 Richmond Ave., UNITi Montrose is in close proximity to Texas Medical Center, the Central Business Distri ..read more

Windy Hill Development recently sold 336 acres of land in Esperanza, a master-planned community in Needville, to Lennar. Lennar joins Rausch Coleman Homes, which acquired 112 acres in the community in early 2023. “Windy Hill Development is excited to work alongside respected homebuilders like Lennar and Rausch Coleman Homes to meet the increasing housing needs of the greater Houston area,” CEO Randy Hall said in a press release. “Our joint effort is focused on ensuring quality homes at affordable prices.” Over the next decade, Lennar and Rausch Coleman Homes will build over 1,600 homes in the ..read more

Urban Genesis announced the opening of the Warehouse District, a series of three midrise apartments consisting of over 500 units in downtown Houston. The first building, Artist, opened in February, while the remaining two buildings, Muse and Icon, are slated to open in May and August, respectively. “Urban Genesis works tirelessly to expand housing options for our essential workforce,” CEO and Founder Matt Shafiezadeh said in a press release. “Residents of all income levels should be able to live in safe, thriving communities close to their employment. Bringing these neighborhoods within reach ..read more

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