New Home Construction Surges in Houston Job growth, low resale inventory and high affordability have combined to inspire a surge in local home construction. Houston-area builders started 7,678 homes during the first quarter, according to a report from Metrostudy, a national housing data and consulting firm. That represents a 14 percent jump over the same period last year. On an annual basis, Metrostudy reports that housing starts are up 24 percent. As of the end of June, Houston builders started 26,080 new homes, the highest annual tally since before the recession. The report also states that new home closings have increased steadily over the last eight quarters. In the second quarter, area builders closed 6,181 new homes, bringing the annual total to 23,666. The supply of homes sitting finished and vacant declined 6 percent and are at historic lows as builders see speculative homes purchased before being completed. Read the complete Metrostudy report here:

Weekly HAR Market Stat Nationwide, local markets have become stable enough to withstand mortgage rate increases. Improving job and other economic sectors have fortified real, organic housing growth. Bargain-basement deals have given way to multiple offers, stiff bidding wars and lickety-split days on market. Inventory may still be thin, but traditional home sellers are stepping up to the plate with new listings. It won't be long now until the housing recovery is once again referred to as just housing. In the Houston region, for the week ending July 21: New Listings increased 15.7% to 2,492 Pending Sales increased 41.4% to 2,127 Closed Sales increased 15.9% to 1,772

Questions? ext. 6 Think Green Register at NAR Green Designation The National Association of REALTORS ® has created a green designation and benefits program tailored for real estate agents. NAR's Green Designation provides advanced training in green building and sustainable business practices so that you can seek out, understand, and market properties with green features. This course consists of three full-day courses. Green 100: Real Estate for a Sustainable Future Green 200: The Science of Green Building Green 300: Greening Your Real Estate Business *All three courses must be taken to complete this certification. Each day is also approved for 8 hours of MCE credit. Date: August 12, 13, 14 Time: 8:30 a.m. – 5:30 p.m. Location: HAR Central Investment: $75 per day