Houston Housing Market Update: Showings Up 20 Percent, Rates Ticking Down, and What It All Means for Buyers

A Lot Is Happening in Houston Real Estate Right Now and Most of It Is Good News

If you have been watching the Houston housing market and wondering whether conditions are shifting in a meaningful way the answer based on the most recent data is yes. Activity is picking up, rates are moving in the right direction, and the factors that were pushing rates higher appear to be easing. Here is what the numbers are actually showing.

The National Buyer Versus Seller Snapshot

Redfin recently published survey data showing approximately 64 percent of respondents identifying as sellers versus 43 percent identifying as buyers. Since Redfin began publishing that survey this represents one of the larger disparities on record. What that ultimately means for the direction of the national market remains to be seen as the data continues to develop but it is a signal worth watching.

What Is Actually Happening in Houston Right Now

The Houston-specific numbers from the past week tell an encouraging story on multiple fronts.

Closings were up four percent which means transactions are actually completing at a higher rate. That is the real measure of a functioning market, not just interest but completed transactions.

Showings were up 20 percent year over year which is a significant jump in buyer activity. More buyers are physically touring homes which is a leading indicator of future contract activity. When showings rise meaningfully contracts tend to follow.

HAR listing views are up 12.6 percent. People are not just casually browsing. They are actively researching specific properties at a meaningfully higher rate than a year ago. That level of engagement reflects genuine buyer intent rather than passive market observation.

New listings are up four percent which means more inventory is coming online to meet that rising demand. Pending listings are slightly down but with closings increasing simultaneously the overall picture is one of a market that is moving rather than stalling.

Off-market listings are up slightly as well. Overall as Rich Bonn of Habayit Home Loans explains the Houston market is seeing substantially more activity, more interest, and more people entering the application process than in recent weeks. That combination is meaningful.

What Is Happening With Interest Rates

The rate picture is also moving in a favorable direction and the reasons behind the improvement are worth understanding.

Oil prices have pulled back considerably from their recent highs. The opening of the Strait of Hormuz for non-Iranian ships has been a significant development for energy markets. Lower oil prices ease the inflation pressure that had been keeping rates elevated. As inflation expectations moderate the bond market relaxes and mortgage rates follow lower.

Jobless claims were up and continuing claims were up as well. While that is difficult news for the people involved in job losses it is a signal to the Federal Reserve and to bond markets that the economy may be cooling in ways that reduce inflation pressure. Easing economic conditions tend to push rates lower.

The Freddie Mac weekly average dropped from 6.30 to 6.23. That is a modest move in percentage terms but it reflects a directional shift that matters for buyers who have been watching rates closely. And importantly those averages do not account for points paid which means the effective rate improvement for well-positioned buyers may be even more meaningful than the headline number suggests.

What Buyers Should Take Away From This

The combination of rising buyer activity in Houston, increasing closings, improving rate direction, and easing oil prices that should continue to support lower inflation readings in the months ahead creates a picture that is more favorable for buyers than it has been in recent weeks.

For buyers who have been waiting for conditions to improve the data is suggesting that improvement is underway. That does not mean rates will drop dramatically overnight but the direction has shifted and Houston-specific market activity is responding accordingly.

A Note on an Upcoming Event

Rich Bonn will be hosting a major event on May 20th featuring four hours of continuing education. The first two hours will cover personal branding mastery with AI with coach Tim Davis. The strategies from this training have contributed to nearly 500 percent year over year business growth. The second two hours will focus on how to get a mortgage when your tax return says no, covering non-traditional lending options including bank statement loans, profit and loss loans, and 1099 programs. These are critical tools for self-employed buyers who are frequently underserved by conventional retail lenders.

If you have questions about the Houston market, current rates, or non-QM lending options for self-employed buyers reach out to Rich Bonn at Habayit Home Loans at 281-841-1723.

Sources

Redfin.com HoustonAssociationofRealtors.com FreddieMac.com MortgageNewsDaily.com EnergyInformationAdministration.gov