In This Week’s “The EDGE” The EDGE Information and news that gives you an edge in the real estate business In This Week’s “The EDGE” • Houston Home Sales Blossom in March • More Ethnic Diversity/Affordability Challenges in Texas Real Estate • Houston Market Movements • Matrix Essentials Coming May 4 “The Edge” is a weekly tool for managers to use to inform their agents and stay current and up-to-date with important real estate industry issues. Brought to you by the HAR Communications Department.

Houston Home Sales Blossom in March The EDGE Information and news that gives you an edge in the real estate business Houston Home Sales Blossom in March HAR will release March 2017 MLS statistics this Wednesday, and here is an advance peek at highlights of the monthly report: Home sales across greater Houston rose 11.7 percent in March, with a total of 7,013 single-family units sold versus 6,278 in March 2016, when energy industry strains were still casting uncertainty over the housing market. The single-family home median price climbed 5.8 percent to a March high of $227,530 while the average price increased 4.6 percent to $284,279 – also a March high. Months of inventory grew to a 3.8-months supply compared to a 3.5-months supply in March 2016. National housing inventory also stands at a 3.8-months supply, according to NAR. Single-family home rentals shot up 36.6 percent year-over-year while townhome/condo rentals soared 37.8 percent. For more detailed information, please visit the HAR Online Newsroom for this and all other HAR news releases.

More Ethnic Diversity/Affordability Challenges The EDGE Information and news that gives you an edge in the real estate business More Ethnic Diversity/Affordability Challenges in Texas Real Estate TAR’s new Texas Homebuyers & Sellers Report, released today, shows growing diversity in the household composition and ethnicity of Texas home owners as well as rising housing affordability challenges across the state. “The profile of Texas homebuyers is as diverse as Texas itself, continually broadening as the demand for Texas real estate grows,” said TAR Chair Vicki Fullerton. “At the same time, rising home prices, lower household incomes, and tight lending standards are making it increasingly difficult for some Texans to afford a home.” Indicators that Texans are buying later and moving earlier in life, the median age of first-time buyers increased three years to 35 years old, while the median age of Texas home sellers decreased eight years to 46 years old. According to the report, debt delayed Texans from saving for or purchasing a home for a median of three years. These and other details of the report are available HERE. You may read TAR’s accompanying news release HERE.

Houston Market Movements The EDGE Information and news that gives you an edge in the real estate business Houston Market Movements National confidence in buying a home has fallen, according to the Fannie Mae Home Purchase Sentiment Index, after hitting an all-time index high in February. Continuing price increases and low inventory are obvious explanations for the index decline. The good news is that an improved employment outlook and higher wages are major factors toward purchasing a home, and demand is not expected to abate. In the Houston region, for the week ending April 2: • New Listings increased 8.6% to 3,156 • Pending Sales increased 16.2% to 2,237 • Closed Sales increased 2.0% to 2,271

The EDGE Information and news that gives you an edge in the real estate business Questions? Ca