Houston-The Woodlands-Sugar Land Home Prices Up 5% Year Over Year in February, According to First American Data & Analytics Monthly Home Price Index Report - Seite 2

Year-Over-Year Price-Tier Data for the Houston-The Woodlands-Sugar Land Metro Area: February 2023 to February 2024

The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.

CBSA

Starter

Mid-Tier

Luxury

Houston-The Woodlands-Sugar Land, TX

5.8%

5.0%

4.9%

“Nationally, starter-home price appreciation remains strong as first-time home buyers hunt for homes to buy from current starter homeowners, who are the most sensitive to the rate lock-in effect and unable or unwilling to list their home for sale to fuel a move-up purchase. The lack of mid-tier move-up demand is significantly weakening price appreciation in the mid-market," said Fleming. “Mid-tier prices for the markets we track are mostly flat compared with a year ago and down by more than 3 percent in Warren, Mich. and Nassau County, N.Y."

February 2024 House Price State² Highlights

• The five most populous states experienced the following year-over-year growth in the HPI: Pennsylvania (+7.9 percent), New York (+5.3 percent), Florida (+4.9 percent), Texas (+4.8 percent), and California (+4.7 percent).
• There were no states with a year-over-year decrease in the HPI.
• Full 50-state HPI data is available here.

Visit the First American Economic Center for more research on housing market dynamics.

Next Release

The next release of the First American Data & Analytics House Price Index will take place the week of April 15, 2024.

First American Data & Analytics HPI Methodology

The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e. the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.