Houston Home Sales Continue Surge Post Harvey

Post-Harvey rebound continues for Houston real estate market

Despite limited inventory after Hurricane Harvey, Houston’s real estate market was driven into positive territory by homebuyers and renters in November. This marks the third consecutive month of sales increases for Houston.

According to the latest monthly report from the Houston Association of Realtors (HAR), single-family home sales rose 7.4 percent year over year to 6,184. With the exception of homes priced between $100,000 and $150,000 and those priced above $750,000, all areas of the housing market indicated gains.

Home sales are 3.3 percent ahead of the volume sold in 2016, in spite of continued reconstruction of some storm-damaged properties. Compared to November 2016, housing inventory last month saw a slight increase from 3.6 months’ supply to 3.7 months, down from the 4.3-month pinnacle just before Harvey struck.

The single-family home median price increased 0.3 percent to $225,725, and the average price rose 0.9 percent to $284,250 last month. Each of these figures is a record high for a November.

“November was definitely a month for giving thanks as the Houston real estate market continued its post-Harvey comeback, however the challenge remains meeting consumer demand with inventory levels that are very low,” said HAR Chair Cindy Hamann. “The key to boosting supply will be restoring salvageable homes to sellable condition and ramping up new construction, both of which we want to see sooner than later.”

Houston saw a total of 7,270 sales in November 2017 across all property types, a 4.9 percent increase from November 2016. Total dollar volume rose to $2 billion, 8.4 percent.Enter article text here.


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J. Patrick Homes wins 2017 Excellence in Energy Award

Energy Efficiency is Top Priority at J. Patrick Homes

J. Patrick Homes has won the 2017 Excellence in Energy Award from CenterPoint Energy for having the highest increase in the energy efficiency of its new homes among builders participating in the utility company’s High Efficiency Homes (HEH) program.


For 2017, the new homes that J. Patrick Homes submitted to the HEH program were, on average, 28.5% more energy efficient than homes built to the standard Texas building code. That performance marks a 76% increase over the previous year, when the average new home submitted by J. Patrick Homes exceeded the building code by 16.2%.


“Energy efficiency is a priority for J. Patrick Homes, and we are very proud of our team members and our partners at CenterPoint for helping us achieve this award-winning level of energy savings,” said Tim Drone, executive vice president of J. Patrick Homes.


Drone said that J. Patrick Homes added a number of energy efficiency features to its new homes in 2017, including R-38 attic insulation, 100% LED lighting, 16 SEER air conditioning systems, and highly efficient windows with very low solar heat gain coefficients.


Drone said that the energy performance achieved by J. Patrick Homes in 2017 saved an average of 5,590 kilowatt hours per home annually, compared to homes built to the Texas code. That translates to an annual average savings of $447, based on an average electricity cost of $0.08 per kilowatt hour.


“At J. Patrick Homes, we are continually striving to make our homes as energy efficient as possible,” he added. “Along with our home buyers, we prioritize energy efficiency for its cost savings and increased comfort, as well as its environmental benefits.”


Based in Houston, J. Patrick Homes offers new homes priced from the high $200,000s to the $700,000s in more than 20 communities throughout the Houston area. For more information, please visit www.jpatrickhomes.com.


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Another Reason to live in Aliana

Aliana to get a Walkable, High-end Retail Development

A 57-acre land tract in a southwest Houston master-planned community will be transformed into a walkable, high-end retail development.

Houston-based NewQuest Properties bought 57.2 acres in Aliana, a master-planned community in Fort Bend County around 30 miles southwest of Houston. JLL's Simmi Jaggi and Elizabeth Clampitt brokered the sale on behalf of Aliana Development Co.

"NewQuest had always been interested in the area, … (and) our mission was (providing) services for the community," Jaggi said.

Although there aren't many firm details on the retail project, NewQuest will develop a walkable, urban retail district on the land that'll be somewhat similar to Brazos Town Center or New Braunfels Town Center at Creekside, said Travis Stone, president of Aliana Development Co.

NewQuest developed both of those projects. Brazos Town Center is a master-planned commercial development in Rosenberg that contains 1.8 million square feet of retail. New Braunfels Town Center at Creekside is a commercial development that encompasses more than 1 million square feet of retail space. Its tenants include Ross, Dick's Sporting Goods, Best Buy, BJ's Restaurant and Brewhouse, and more.

NewQuest declined to comment for the story.


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J. Patrick Homes "2017 Energy Efficiency Excellence Award"

CenterPoint Energy Awards J. Patrick Homes

On Tuesday, November 11, 2017, CenterPoint Energy awarded J. Patrick Home the prestigious "2017 Energy Efficiency Excellence Award".

Chosen from a group of local and national homebuilders, J. Patrick Homes was recognized for its efforts in delivering energy efficient homes throughout the Houston market.     


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