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
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National Parks Layoffs Will Cause Communities to Lose Billions
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Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
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.
EMC Planning Group, Inc.
Planetizen
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Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service