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Home stock replenishes; market slows
BY GEORGE WIEBE
MARKET UPDATE The Greater Houston area’s real estate market has slowed over the summer, experts report. 30% MORE HOMES were on the market in July 2022 than in July 2021. $348,740 was the median home price in July.
Sales of single-family homes in the Houston area declined for the fourth consecutive month in July, according to an Aug. 10 market update from the Houston Associa- tion of Realtors. Total active home listings grew 30% year over year in July, raising the sin- gle-family home monthly inventory— the estimated number of months until the current housing inventory is exhausted—to 2.5 months, the highest level in two years, according to HAR. While the median single-family home value, $348,740, rose 12.7% year over year, it fell from its $355,000 height in June, according to the HAR. “With strong economic headwinds facing consumers right now, it comes as no surprise that home sales fell in June and may remain below record levels for a while as the market nor- malizes,” HAR Chair Jennifer Wauhob
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SOURCE: HOUSTON ASSOCIATION OF REALTORS/COMMUNITY IMPACT NEWSPAPER
said in a statement. Townhomes and condominiums also closed the month out on a year- over-year 21.53% decline from 836 to 656 sales. “As long as we continue to see inventory grow and prices level off, I believe homebuyers will move off the sidelines and back into the marketplace,” Wauhob said.
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Annie E. Casey Foundation ranks Texas 45th in the nation for overall children’s well-being
BY HANNAH NORTON
point increase over a decade. Texas students are still recovering from pandemic-related setbacks in math, according to the Texas Educa- tion Agency. When it comes to children’s well-being, Texas ranked:
Texas is one of the lowest-ranked states in the nation for the well-being of children, according to a new report from the Annie E. Casey Foundation, a national charitable foundation. The AECF’s annual Kids Count Data Book evaluates data across four categories—economic well-being, education, health and family/com- munity—through the lens of children. Texas ranked 45th this year. Texas’ ranking is relative to other states, Coda Rayo-Garza said. Rayo- Garza is the director of research and data for Every Texan, a nonprofit policy organization. In 2020, 2,238 children and teens died in Texas. This equals approxi- mately 28 deaths per 100,000 adoles- cents, which worsened from the 2010 rate of 26, according to the AECF. In education, Texas claimed the 33rd spot. The AECF reported in 2019, 70% of Texas eighth-graders were not proficient in math, a 6 percentage point decline from 2009. Similarly, 70% of fourth-graders were not proficient in reading, a 2 percentage
#33 in education #36 in economic well-being SOURCE: ANNIE E. CASEY FOUNDATION/ COMMUNITY IMPACT NEWSPAPER
#48 in health
The TEA reported 40% of students who took the State of Texas Assess- ments of Academic Readiness this spring met or exceeded the expecta- tions for their grade level. These issues stem from a lack of funding for Texas schools, according to Every Texan. “Texas can make sure that all children have access to high-quality education by establishing sustain- able and predictable funding for schools,” wrote Kaitlan Wong, a research analyst for Every Texan.
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CYPRESS EDITION • SEPTEMBER 2022
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