Off to a good start, for some.

Houston real estate continued its 2021 stride into the new year, with the majority of action happening in the luxury-level market (currently where buyers are provided the most options). The menu in other market segments remains quite limited, leaving consumer demand at an all-time high. The increasing volume of luxury-level purchases and fewer options in other market segments for buyers is continuing to push overall prices upward. Indeed, single-family home pricing rose more than 7% compared to the year prior.

This is indicative of a precarious situation for upcoming home buyers, particularly as home prices continue to rise alongside mortgage interest rates. Think major uncertainty in terms of affordability.