Hi neighbor,
Today I will be sharing with you our perspective on the local real estate market here in Houston, Texas, specifically a market update for the neighborhood of 77070. Whether you are looking to buy, sell, or just keep an eye on the market, we look forward to being your resource.
What is happening in the real estate market in 77070?
We currently have 2 homes pending, with 1 home sold in the last two weeks, averaging a sale price of $190 a square foot. One home sold over the asking price.
Compared to the two weeks prior: The number of homes sold is still the same, but the average sales price is up to $790,000 ($435,000 previously). Every home is different, with different features, so don’t forget to ask us for your annual equity review if you are curious about your personal home. You can request your free home evaluation here or email us here.
I know the interest rates rising has been one deterrent from some buyers purchasing right now, but that isn’t your ideal buyer anyways! The most desirable homes in the area are still selling the first weekend or first week they hit the market (a really good coming soon campaign, like we do at Jo & Co. allows you to sell faster, for more money).
Check out the graphic below for a larger overview of the real estate market for the last two weeks in 77070.
Insight From Jo
I hope you had a very Merry Christmas and were able to celebrate with your loved ones — whether that looked like quiet moments at home, full tables, or simply rest. 💛
And just like that… Happy New Year.
As we step into a fresh year, I keep coming back to this verse:
“See, I am doing a new thing! Now it springs up; do you not perceive it?”
— Isaiah 43:19
There’s something grounding about a reset. A reminder that even when the world feels loud or uncertain, progress is still happening — often quietly, steadily, and right in front of us.
Which brings me to real estate.
Despite the headlines, the Houston-area new construction market has been very active — especially in the suburbs. Over the last 60 days alone, here’s what we’ve seen:
• Magnolia: 400 new construction homes have closed or gone under contract, with 152 more currently pending
• Montgomery County: 1,885 homes closed or under contract, with 737 pending
• Conroe, Willis & Montgomery City combined: 1,006 homes closed or under contract, with 399 pending
• Conroe alone: 613 homes closed or under contract, with 222 pending
• Katy: 673 homes closed or under contract, with 293 pending
• Fort Bend County: 1,200 homes closed or under contract, with 519 pending
• Cypress: 904 homes closed or under contract, with 355 pending
One of the most encouraging takeaways? Roughly 40% of this activity is still pending, meaning buyers aren’t just reacting to what happened months ago — they’re making confident decisions right now.
This isn’t a frozen market. It’s a thoughtful one.
Buyers are being strategic. Builders are offering meaningful incentives. And communities that offer space, value, and long-term livability are continuing to see strong demand.
My two cents?
The market didn’t stop — it adjusted. And for many people, this season is quietly creating some really good opportunities.
If you’re thinking about buying, selling, or simply want to understand what all of this means for your situation, I’m always happy to talk it through.
Here’s to clarity, peace, and good decisions in the year ahead.
What is happening in the real estate market nationally?
| MORTGAGE RATES CURRENTLY TRENDING | THIS WEEK'S POTENTIAL VOLATILITY |
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Notable News
- Despite sluggish sales, NAR’s chief economist reports that homeowners are doing well. Watch Now >>
- How Reverse lending is predicted to drive more business in 2026. Listen Now >>
- Pending home sales surge to nearly 3-year highs. Read Now >>
Market Recap
- Pending home sales ticked up by 3.3% in November, which was higher than expected.
- The FHFA house price index revealed that house prices surged by 0.4% month-over-month in October. Prices are 1.7% higher than October of last year.
- The seasonally adjusted 20-city Case-Shiller home price index also showed an increase in prices in October, hiking by 0.4% month-over-month.
- Continuing jobless claims were at a level of 1,866,000 during the week ending 12/20, which was a decrease of 47,000 from the week before. Initial jobless claims were at a level of 199,000 during the week ending 12/27, which was a decrease of 16,000 from the week before.
Review of Last Week
SLIPPING INTO 2026… After a solid Christmas week rally, Wall Streeters couldn't hold onto the gains during another holiday-shortened week, thanks to low trading volumes and the absence of any market-moving catalysts.
Still, the three major stock indexes all booked double-digit annual gains for the year—a threepeat for the broadly-based S&P 500. We also saw initial jobless claims fall to 199,000, far below the level signaling recession.
It was no surprise the markets closed the year at near-record highs, as the prior week's GDP report showed the U.S. economy expanded at a 4.3% annual rate in Q3, well ahead of expectations and its strongest growth in two years.
The week ended with the Dow down 0.7%, to 48.382; the S&P 500 down 1.0%, to 6,858, and the Nasdaq down 1.5%, to 22,236.
Bond prices slipped overall, but the 30-Year UMBS 5.0% was UP 8 basis points, to 99.29. Freddie Mac reported the national average 30-year fixed mortgage rate “moved to its lowest level in 2025…an encouraging sign for potential homebuyers.” Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW… 2025 was a year of normalization for the U.S. housing market. 39% of listings saw price cuts, while active inventory rose by 16.4%, as conditions shifted toward balance between buyers and sellers.
Market Forecast
HOME BUILDING, PRODUCTIVITY, JOBS… Forecasts call for Housing Starts and Building Permits to continue moving up in both the October and the delayed September reports. The Preliminary Q3 Productivity read should show that key economic measure continuing up at a strong rate. Analysts expect a modest gain in Nonfarm Payrolls for December, which could keep the Fed on a rate-cutting tack.
Summary
The Pending Home Sales index of signed contracts on existing homes shot up more than 3% in November and is up almost 3% annually. That's its strongest performance of the year and the best performance in nearly three years.
Home price gains continue to slow, with the October Case-Shiller Index up only 1.4% nationally, and some markets posting small declines. Housing affordability is improving, with wage growth rising faster than home prices.
Realtor.com reports homebuyers now need about 7 years to save for a down payment. Timelines have shortened considerably from a peak of 12 years in 2022, and vary from under 2 years in affordable metros to longer in pricier cities.
Can we sell yours?
So if you are in need of a listing agent, we would love the opportunity to see your home and meet you of course. My husband, Edward, and I, look forward to being the brokerage and team for you! You can reach out to us via email: [email protected] & [email protected] or telephone: 832-493-6685.
Read more:
If you are curious ‘How to get more money for your home when listing it for sale', check out this blog post.
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
We are Waiting for You
If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!
If you are overwhelmed..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! Thank you for trusting us.
What next?!
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
• Download our Moving to Texas ebook! http://byjoandco.com/movingtotexasebook.
• Download our Where to Live in Houston Texas ebook! http://byjoandco.com/wheretoliveebook.
• Browse our Ebooks and Relocation Guides: http://byjoandco.com/ebooks
• Schedule a phone call or appointment with us! http://byjoandco.com/appointment.
• Email us! [email protected].
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• Ready to find your dream home? Search, http://search.byjoandco.com.
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