“I think that while a lot of times it's easy to look at the last five years and feel like that is the way it is, that's normal; if you look on a historical timeline, I think what we're actually seeing right now is a normalizing of the market,” Cottar said at the June 10 Houston Northwest Chamber of Commerce luncheon. “We're getting it back to something that's more sustainable because those 3.5% interest rates ... and those price points of $50,000 and $100,000 over asking—those things are not sustainable.”
Also of note
During the first three months of 2025, 19% of Katy and Fulshear households could afford to buy a median-priced home, compared to 34% in Harris County and 43% in Fort Bend County, according to HAR's Q1 Housing and Rental Affordability Report released May 8.
In the first quarter, the median price of a home in Katy was $486,540, with a minimum qualifying annual household income of $149,200, data showed. Harris County’s median home was $325,000, and its minimum qualifying income was $100,400, according to the report.
In Fulshear, the median price of a home was $617,500, with a minimum qualifying household income of $202,000, data showed. Fort Bend County’s median home was $378,000, and its minimum qualifying income was $117,600, according to the report.
Out of the 19 submarkets within Harris County, Katy was the fifth-most expensive area. Bellaire, Memorial Villages, the River Oaks Area and West University place all had fewer people who could afford the median home price, HAR reported. Fulshear was the most expensive area in Fort Bend County.
