1. In This Week’s “The EDGE”
• Houston Real Estate Cools in March
• Houston Market Movements
• FEMA Implements Flood Insurance Increases
• Houston City Council Approves Floodplain Amendments
• Get On Deck for YPN Spring Training
• Certify Yourself for Success
“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.

2. Houston Real Estate Cools in March
HAR will release March 2018 MLS statistics this Wednesday. Here is an advance look at some of the key take-aways:
The Houston real estate market saw its first sales slowdown since Hurricane Harvey last August, with 6,810 single-family homes sold versus 6,982 a year earlier. That represents a 2.5 percent decline.
The single-family home median price rose 2.4 percent to a March high of $233,500; the average price increased 3.0 percent to $292,756 – also a March high.
Inventory grew to a 3.4-months supply, the highest level of 2018 and the same as the national level reported by NAR.
March leases of single-family homes fell nine percent year-over-year while leases of townhomes and condominiums dropped 13.1 percent.
For more detailed information, please visit the HAR Online Newsroom for this and all other HAR news releases.

3. Houston Market Movements
Climbing out of winter has taken more time than usual for much of the U.S., but house hunting should finally be taking center stage for many buyers. Quickly assessing what's available for sale will be key for buyers in what is sure to be another competitive selling season. Buyers and sellers must watch for further mortgage rate increases and volatile economic indicators like a jumpy stock market and chilly relations with international trade partners, which can cause shifts in local housing markets.
In the Houston region, for the week
ending April 1:
• New Listings decreased 13.3% to 2,767
• Pending Sales increased 11.7% to 2,213
• Closed Sales decreased 10.1% to 2,168

4. FEMA Implements Flood Insurance Increases
On April 1, the National Flood Insurance Program (NFIP) implemented the next round of statutorily-required premium increases. By law, rates are climbing six to 10 percent per year until they reach full-risk actuarial levels.
This year, the typical policyholder will pay an eight percent increase but individual property owners could see as high as percent, depending on the age of the property and the property’s risk of flooding.
NAR continues to urge Congress to pass a long-term NFIP bill that will, in part, address rising premiums. The House has passed the NAR-supported 21st Century Flood Reform Act (HR 2874), which would cap NFIP rates, but the Senate has yet to take up the bill.
Please read FEMA's summary of the April 1 changes. Visit for additional information that pertains directly to real estate professionals.

5. Update: Houston City Council Approves Floodplain Ordinance Amendments
This message is to update you on City of Houston’s Floodplain Ordinance, Chapter 19. On April 4, Mayor Sylvester Turner and eight Houston City Council Members voted 9 to 7 to approve the amendments to Chapter 19, the Floodplain Ordinance.
The updated ordinance will take effect September 1, 2018 and will apply to all new buildings built within the 500-year floodplain. The ordinance also applies to additions to existing homes larger than a third of the home’s original footprint.
Mayor Turner also plans to address within the year elevation requirements for new buildings outside the floodplain, and to require that builders redeveloping large parcels of land provide additional storm water detention, among other changes.
HAR’s Governmental Affairs Advisory Group will continue to work with the City of Houston and other agencies to mitigate any issues these changes may cause in the real estate industry and to homeowners.
If you have any questions, please feel free to contact HAR’s Governmental Affairs Department at ext. 269.

6. Get On Deck for YPN Spring Training
It’s time to step up the plate for HAR’s annual YPN Spring Training luncheon, coming up on Wednesday, May 2.
To review the complete lineup and register, please go HERE.

7. Certify Yourself for Success
Texas Affordable Housing Specialist (TAHS) 
TAR and local associations are offering the Texas Affordable Housing Specialist (TAHS) certification to REALTORS® across Texas. This certification provides 12 MCE hours, including Texas REALTOR® United Texas, a four-hour course; Help for Homebuyers, a two-hour course; the four-hour FHA Lending for Workforce Housing; and the two-hour Marketing to the Affordable Housing Buyer. REALTORS® who earn TAHS certification are listed by city under the ‘Affordable Housing’ category on the TexasRealEstate.com website. TAHS certification equips REALTORS® with the knowledge to help increase sustainable homeownership throughout Texas.
Date: Tuesday & Wednesday, April 17 & Location: HAR Central & Montgomery and via TAR online broadcast
Time: 9 a.m. to 4 p.m.
Investment: $150
Register HERE. Questions? Call ext. 6