New data from the Houston Association of Realtors shows the end of an "unrelenting string of positive monthly home sales data." According to the Houston Chronicle, the group "attributed the decline to this area’s lack of housing inventory."
Nancy Sarnoff shares the data from Houston Association of Realtors: "Single-family home sales fell 7.3 percent in May, the first significant decline in three years."
Sarnoff also shares the group's take on the numbers, which is expressed by Chaille Ralph, the chairwoman of the association: "It was just a matter of time before our depleted supply of inventory caught up with us….This is Economics 101: Supply and Demand. Until more homes are listed for sale and new housing is built, it’s a safe bet that there will be further sales declines and more demand for rental properties."
The article also includes evidence of the impact of low supply on housing prices and the rental market.
FULL STORY: Three-year housing streak ends
How Houston Can Be a Model for Housing Reform
The city builds more new housing than almost any other and has dramatically reduced homelessness, yet low-income families struggle to find affordable housing.
Houston To Return Millions in Affordable Housing Funds
The city failed to meet a deadline for building housing on lots purchased with federal funds distributed after Hurricane Harvey.
How Houston Keeps Housing Affordable
The city’s limited land use regulations have kept housing costs relatively low, but government intervention is still needed to provide housing to the lowest-income residents.
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
Placekeeping: Setting a New Precedent for City Planners
How a preservation-based approach to redevelopment and urban design can prevent displacement and honor legacy communities.
How the ‘Direct Vision’ Design Approach Saves Lives
Designing large trucks to ensure better visibility for drivers can reduce fatal crashes and improve workplace safety.
San Diego Swaps Parking Lane for Kid-Friendly Mini Park
The block-long greenway will feature interactive play equipment and landscaping.
Tracking the Invisible: Methane Leaks From LA’s Neighborhood Oil Sites
Environmental advocates are using infrared technology to monitor and document methane leaks from neighborhood oil sites, filling regulatory gaps and pushing for stronger protections to safeguard community health and the climate.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Salt Lake City
NYU Wagner Graduate School of Public Service
City of Cambridge, Maryland