“en”: {
“summary”: “
First American Data & Analytics released its August 2024 Home Price Index (HPI) report, showing the Houston-The Woodlands-Sugar Land market experienced a 2.9% year-over-year increase in home prices. Nationally, annual house price appreciation slowed for the eighth consecutive month, approaching the pre-pandemic average of 3.5%.
Key findings include:
Houston-The Woodlands-Sugar Land saw a 0.2% month-over-month increaseNational HPI increased 4.5% year-over-year and 0.1% month-over-monthStarter home prices in the Houston area rose 2.7%, mid-tier 3.0%, and luxury tier 4.2%
Chief Economist Mark Fleming noted that housing demand remains strained due to high mortgage rates and prices, while supply has increased. The report also highlights resilient first-time buyer demand in more affordable markets.
“,
“faq”: [
{
“q”: “What was the year-over-year home price change for Houston-The Woodlands-Sugar Land in August 2024?”,
“a”: “According to the First American Data & Analytics HPI report, the Houston-The Woodlands-Sugar Land market saw a 2.9% year-over-year increase in home prices in August 2024.”
},
{
“q”: “How did national home prices change from August 2023 to August 2024?”,
“a”: “The First American Data & Analytics HPI report shows that national home prices increased by 4.5% year-over-year from August 2023 to August 2024.”
},
{
“q”: “What were the price changes across different tiers in the Houston-The Woodlands-Sugar Land market?”,
“a”: “In the Houston-The Woodlands-Sugar Land market, starter home prices rose 2.7%, mid-tier prices increased 3.0%, and luxury tier prices went up 4.2% from August 2023 to August 2024.”
},
{
“q”: “Which Core-Based Statistical Area (CBSA) had the highest year-over-year increase in starter tier HPI?”,
“a”: “According to the report, Warren, Michigan had the highest year-over-year increase in starter tier HPI at 9.0%.”
},
{
“q”: “What factors are influencing the housing market according to First American’s Chief Economist?”,
“a”: “Mark Fleming, Chief Economist at First American (NYSE: FAF), noted that housing demand remains strained due to elevated mortgage rates and high prices, while for-sale inventory has increased compared to last year.”
}
]
}
}