The Center for Neighborhood Technology has updated its interactive region-comparison website to show data comparing carbon dioxide emissions around the Houston region. The Housing + Transportation Affordability Index now allows you to compare CO2 emissions — from “household vehicle travel” only — on side-by-side zoomable maps.
The 2 new data sets available show CO2 emissions per acre (at the top above), and CO2 emissions per household (directly below that) from household auto use. The Houston-Galveston-Brazoria region is one of 55 U.S. metropolitan areas mapped on the website. The center’s point?
When measured on a per household basis, it found that the transportation-related emissions of people living in cities and compact neighborhoods can be nearly 70% less than those living in suburbs.
The center figures that transportation accounts for 28 percent of all greenhouse gas emissions in the U.S.
Other H+T map tools focus on how affordable different locations are to live in — when you take transportation costs into account:
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Read more about: Air Pollution, Green Development, Houston Data, Online Resources, Transportation
The latest stats provided to 11 News by Houston-based Apartment Data Services show that at the newest complexes, rents for all size of apartments are now averaging $1,108. That’s 11 percent cheaper than last year. Rents are about the same for complexes built a decade ago, averaging $739 a month. And rents are actually up slightly at older complexes, where they’re averaging $570 a month. ‘I’d say the inner loop is probably the softest,’ said Bruce McClenny of Apartment Data Services. ‘They’re about 40 percent occupied,’ McClenny said of brand-new complexes that traditionally take a year or two to fill up. . . . We’re told rents are holding steady for many apartments in far west Houston, Katy, The Woodlands, Kingwood, and Sugar Land. Demand remains strong in those places. Why? The energy industry, for one. ‘The energy corridor’s taking off again in west Houston. There’s lot of growth, people relocating day in day out,’ according to Shannon Proteau, another agent with Find It Apartment Locators. But, in a twist, Proteau said it’s also because families forced out of homes by foreclosure are attracted by highly-rated suburban school districts.” [11 News]
Read more about: Apartments, Energy-Corridor, Houston Data, Price Trends, Renting
“The days are long gone when sales were so brisk that everyone from accountants to lawyers snapped up empty lots to build homes in Houston, where loose laws meant at the height of the property boom anyone could be a builder. . . . Mike Salomon, president of Sandcastle Homes, however, says those unprepared for an inherently risky business have been chased out of the industry. ‘We’ve gone from a market that was very forgiving, and you could make mistakes and still be profitable,’ he says. ‘We’re close to what it should be like, where people who don’t know what they are doing are going out of business.’ His profits were down by 30 to 40 per cent in 2008, but volume was up 37 per cent. ‘We have to do more stuff to make the sales, but we have a profitable business that we’re still running.’” [Financial Times, via Swamplot inbox]
Read more about: Buying and Selling, Homebuilders, Houston Data
From the website of New York graphic-design office Thumb:
This poster is designed as a sort of calling card for Rice School of Architecture, located in Houston. We collected ring roads from 27 international cities and layered them all at the same scale. As it turned out, Houston has the largest system of those we surveyed. (Beijing was second)
Poster: Thumb
Read more about: Freeways and Toll Roads, Grand Parkway, Houston Data, Rice-University, Sprawl
More comments on Greenwood King’s April market report, which focuses on real estate activity in Houston’s higher-end neighborhoods. A second reader focuses on prices, determined to find storm clouds in the report’s silver lining:
While some avg. sales prices are higher, this is most likely due to builders no longer buying lots to build on for b/t 400 and 500k.
Last week you had a poster ask to see the evidence of price declines and an eroding market. Here is further evidence of a declining market. Moreover, the poster requested to see comps that show declines. I think I have proof. Can we get a Realtor to confirm that a prime West U. property–3128 Lafayette–sold for 700,000 over two years ago and now has been recently reduced to 699,000. Welcome back to 2007–[how] much further do we have to go?
One problem with finding these declining comp examples (and I think there are more, and more on the way), is that the Realtors control all of the data and are reluctant to admit that the prime inner loop area that has been so good to them is begining to substantially turn negative.
Photo of 3128 Lafayette St. in West University: HAR
Read more about: 77005, Buying and Selling, Forecasts, Homes for Sale, Houston Data, Price Trends, West University
Swamplot readers have a few things to say about Greenwood King’s latest fancy-neighborhood market report, which came out yesterday! Our regular GK watcher notes that the separate breakdowns for new construction and existing home sales introduced in last month’s edition have been abandoned. Still:
The news is relatively bad. Sales volumes are down sharply all over town. 17% more high end listings than last year . . . River Oaks, Tanglewood, Boulevard Oaks, and Memorial Close In are all over 12 months of inventory. . . .
The 17% higher inventory is reflective of a market of motivated sellers. By definition, a high end homeowner should not “have to” sell unless there has been a life change (divorce, death, job interruption). Everyone knows the housing market is weak in 2009, so…. the only class of sellers on the market are those having cash flow problems or those who have to sell due to a life change. There are almost no trade up sellers right now.
Memorial has 19.1 months of inventory
. . . as big $3-5 million white elephants sit there waiting for the landscapers to come and cut the lawn for the week. It takes a good $20,000 a month to live in one of those monsters. I guess the supply of willing millionaires just isn’t going to match the number of mega mansions. It will take some time, but they will soon move onto bank balance sheets and then to the auction block.
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Read more about: Boulevard-Oaks, Buying and Selling, Houston Data, Memorial, Price Trends, River Oaks, Tanglewood
April 29, 2009 – 11:48 pm
“I would like to ask you to show us how right you are by pointing me to some properties inside the Loop that could be purchased for 2005 prices. I have buyers. Really ready finance-able buyers. Of course, you had better send me a lot, or my buyers will bid your properties up to a price past 2005 prices in a heartbeat. So, let me at them. I am ready. I search the market constantly, and would love to present these ‘2005′ deals to my buyers, but I am not seeing them. . . .” [Harold Mandell, commenting on Popping That “No Housing Bubble in Houston” Myth]
Read more about: Buying and Selling, Comments, Homes for Sale, Houston Data, Price Trends
Enjoy your spring, everyone! Armed with a few pointed charts fueled by the latest data from HAR, Swamplot’s spreadsheet-wielding correspondent writes in again, this time with comments on March’s residential real-estate market report:
The Realtors always speak breathlessly of the “Spring Selling Season” with an almost religious reverence. Well it shows in the data. Home sales are 60-100% higher in the warm weather months. Prices are 10-20% higher, too. . . .
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Read more about: Buying and Selling, Economic Conditions, Forecasts, Houston Data, Price Trends, Real Estate Marketing
April 15, 2009 – 12:51 pm
The Swamplot reader who’s been focusing on Greenwood King Properties’ monthly market reports has spotted some problems in the latest sales data. The latest report, for the first time, provides separate totals for new homes and resales:
If dollars fall by more than units, then price has fallen.
If you add together 2 significant segments and one is lower and one is flat then the total is lower.
The quick math doesn’t work!!!
How can Flat+Down=Flat??
How can -38% dollars and -33% transactions = Flat??? It implies lower prices…
So now I have a report that raises more questions than answers. Total sales prices are flat? Resale prices are flat? ALL of the pain is in new construction?
Price has always followed volume in every market around the country. So are the price drops for resales ahead of us now? The average resale high end home in Houston is now $585,000??? Isn’t that LOT VALUE in most of these neighborhoods? We never got the news on what happened over the past 3 or 4 years on resale only. Were prices actually flat on the way up?
A few more comments on looming problems in the market for high-priced homes:
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Read more about: Buying and Selling, Houston Data, New Construction: Residential, Price Trends
April 14, 2009 – 11:31 am
Swamplot’s Greenwood King-watching reader informs us that the real-estate firm’s March survey of home sales in Houston’s tonier neighborhoods is already out — early, this time. And this month the report details separate data for new construction and resales. Snarks the GK watcher:
This is a typical reaction of the Realtors to falling prices. Find a way to re-segregate the market to make the bread and butter look OK. Last year it was “Inside the loop never goes down!” Pretty soon we will see the market cut into “Three Story (-34%) Two Story (-2%) and One Story (-26%) homes.”
Hmmm . . . not a bad idea! But what about the new numbers?
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Read more about: 77008, Buying and Selling, Houston Data, Houston Heights, New Construction: Residential, Price Trends
Judy Thompson updates the neighborhood stats: “The Zip Code Feeling the Most Pain is . . . . definitely 77027, the Afton Oaks area. Today’s market condition update shows six of its eight price ranges to be . . . a buyer’s market. This is happening at the high end, a result of so much redevelopment during the past decade. This zip code also experienced the highest appreciation in recent years in price per square foot paid so you might say they experienced a slight ‘bubble’ that is now bursting.” [Strictly a Buyer's Agent]
Read more about: 77027, Afton Oaks, Buying and Selling, Houston Data, Price Trends
The Houston Chronicle’s annual neighborhood-sales-data extravaganza came out this weekend. Since it covers the 2008 calendar year, the survey is timed just right to document the continuing drop in sales and prices of far-flung lower-priced homes — but maybe a bit early to catch the extended Wile E. Coyote-style midair hang a fair number of closer-in half-a-million-plus homes on the market are currently experiencing.
A few highlights:
Sales activity dropped in all counties for non-foreclosure transactions. All counties showed a rise in sales of foreclosed homes.
And those foreclosures are also clearly missing the bullseye: In 2008 there were only 362 foreclosures inside the Loop and 2,556 between the Loop and Beltway 8 — but a whopping 9,342 outside the Beltway. In total, foreclosures were only up about 11 percent over the previous year. But the number of non-foreclosure sales dropped by almost 22 percent. So in 2008 foreclosures accounted for just under 22 percent of all sales.
Where did the prices fall last year?
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Read more about: Foreclosures, Houston Data, Online Resources, Price Trends
Note: Story updated below.
A Swamplot reader writes in one day early, mighty eager to get a glance at the latest Houston real estate numbers:
It seems that things must be so bad in the high end that Greenwood King’s monthly market report isn’t even out for February -and it is April!
It is basically soft core porn for real estate watchers. A girl friend of mine simply emails me an excited ‘ITS OUT!!!’ whenever it is posted.
This report is watched by everyone, because it provides a focused glimpse into the city’s Better Homes and Gardens. It is a very exclusive party list. When riff raff is even allowed in the party, it is neatly segregated from the other data: I guess “Montrose (Townhomes)” is allowed in just because it is a quirky and fun guest and “Montrose (Single Family)” needs someone to talk to.
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Read more about: Buying and Selling, Houston Data
Comment of the Day: The Upper Limits of Inner Loop Rents
“The reason the inner loop is ’soft’ is simple math. A tiny apartment is now something like $1,200 per month. Meanwhile, my mortgage on my inner-loop house is just over $1,300.” [me, commenting on Where Rents Have Dropped]