There's more competition for starter homes as home shoppers who had increased their...
Entry-level homes in Houston have appreciated rapidly during the pandemic, rising 41 percent since February 2020, according to Zillow.Home sales in the Houston area may have slowed but that doesn't mean entry-level buyers here have an easier or cheaper road to homeownership.
"Buyers shopping for the least-expensive homes this spring aren't noticing much difference from the pandemic-era market heat," Skylar Olsen, Zillow's chief economist, said in the report."Competition is fierce, but there aren't many homes for sale, so buyers should be patient but prepared to move quickly and anticipate a bidding war once they find a home they love."
In the past year, U.S. home values, as determined by Zillow, rose by 8 percent for the least-expensive tier of houses, while that of the most-expensive homes fell by 1 percent, their first decline since 2012. Entry-level homes in Houston gained 4 percent in value, twice the rate of the middle and top-tier homes in the past year.
The 1,630-acre community, south of the Grand Parkway at Woodson's Reserve Parkway, will open eight model homes by Toll Brothers and Tri Pointe Homes this spring. The community is about 5 miles east of Interstate 45 in southern Montgomery County.
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