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    Cliff Notes

    Real Estate Confidential: CultureMap's month-long search for the perfect home(and office)

    Clifford Pugh
    Jun 1, 2010 | 12:34 am

    June is traditionally the start of the summer vacation season — a time when everyone slows down. But in the world of real estate, it's all business.

    For those looking to buy or sell a house, the early summer months are one of the busiest times of the year. There's no holiday rush to contend with, the kids are out of school, and many times, if someone is transferred for work, it's the perfect opportunity to get everyone moved and settled before school starts up in August.

    So, here at CultureMap, we decided to make our June theme, "Real Estate Confidential." Over the next month, we plan to tell you just about everything you need to know to buy or sell a house — while taking a look at what's happening in the world of Houston real estate, from suburban ranch-style homes to in-town high-rise condos.

    We'll ask the experts to explain the Houston housing market and offer tips on things like how to "stage" a home for maximum impact and ways to survive the closing, where something invariably will go wrong at the last minute.

    And we'll look at some of the most interesting homes on the market now, examine what's going to happen to the great wealth of mid-century modern homes and offices in Houston, decipher the joys of vertical living, and weigh the pro's and con's of renting vs. buying.

    I've played the buying-and-selling game several times, and, frankly, I'd rather have a root canal than go through it again. I abhor the process so much that the last time we were in the market for a house I refused to go on the search until my partner and our real estate friend had seen everything worthwhile in our price range in our target area — Montrose and the Heights — and whittled the list down to the best two or three available. We chose a 1920 Montrose bungalow with a lot of potential in our price range. (That was in 1997; we couldn't afford the neighborhood in 2010.)

    However, now I love watching House Hunters on HGTV, so I must be coming around. (Hey HGTV: Why don't you feature more homes in Houston?)

    As Houstonians, we are lucky. Even through the recession, homes have, more or less, held their value — unlike Las Vegas, Phoenix, Miami and much of California, where home prices have dropped dramatically. And Houston home prices consistently remain below the national average for major cities, a great selling point in luring new business to the Bayou City.

    While the market has been sluggish the last couple of years, CultureMap real estate expert Ralph Bivins notes several signs that the Houston real estate market is perking up. Residential sales and building permits in the spring have increased over the same period last year and the market for multi-million-dollar mansions is flourishing. Ralph is organizing the National Association of Real Estate Editors conference in Austin later this week and I'll be a panelist there, so I hope to learn more about how residential real estate works and report back with my "Dummy's Guide to Real Estate."

    Lately, I've learned a lot about commercial real estate, too. CultureMap is growing so fast that we left our cramped Rice Village office for a really large, really cool loft space facing Buffalo Bayou just north of downtown in the warehouse district near the University of Houston-Downtown campus. It's one area of Houston I don't know much about. Some of the city's oldest buildings are here — with eclectic tenants ranging from Houston Studios to the nation's best looking jail (at least from the outside) — so there's a real sense of history here that's missing in other parts of town.

    Our upstairs neighbors, who live in residential lofts, walk to work in downtown Houston or ride the light rail from the UH-D station. We're within walking distance of the iconic Last Concert Cafe and Ray's, which serves some of the best burgers and hot dogs in town. I really like the edgy urban space. It mirrors what CultureMap aspires to be.

    Drop by and see us sometime.

    unspecified
    news/real-estate

    millennial movers

    More millennials bought homes in Houston than any other city in 2024

    Amber Heckler
    Jul 14, 2025 | 5:15 pm
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    Houston is turning into a haven for millennial homebuyers, a new SmartAsset housing study has found. Nearly 62,000 millennials purchased homes in the Bayou City in 2024.

    The report, "Where Millennials Are Buying Homes – 2025 Study," analyzed mortgage origination data across 41 of the largest U.S. metros, ranking them based on the percentage of local people aged 25-44 who purchased a home in 2024. As a note, the study only observed conventional mortgages and not FHA, USDA, or VA loans.

    The findings show more millennials bought homes in Houston-Pasadena-The Woodlands than in any other U.S. metro last year, totaling 61,826 originated mortgages.

    "This was the highest raw number of new Millennial homeowners nationwide, outranking metros like New York City and Los Angeles, which have much larger total populations," the report's author wrote.

    For additional context, that's nearly 6,100 more mortgages than Dallas-Fort Worth-Arlington, which had the second-highest number of millennial home purchases nationwide in 2024.

    The median property value of a Houston-area home purchased by a millennial in 2024 came out to $345,000, and the median income of a millennial homeowner was $124,000, according to the report.

    Despite the vast number of millennials that bought homes in Houston last year, it only accounted for 2.85 percent of all local residents within the 25-44 age bracket. Furthermore, Houston-Pasadena-The Woodlands placed 27th in the report's ranking of U.S. metro areas with the highest percentage of millennials who purchased homes in 2024.

    The No. 1-ranking metro was Raleigh-Cary, North Carolina with 4.5 percent of local millennials securing a mortgage last year. However, that percentage only represented 19,735 mortgages originated in 2024.

    SmartAsset said U.S. metros with a high rate of millennial homebuyers may show desirability within the area's job market, housing market, and its local economy.

    "In some places, 1 in every 25 residents between the ages of 25 and 44 purchased a home with a conventional mortgage just in 2024 alone," the study said. "In other major metros, less than 1 in 100 Millennial-aged residents last year. This disparity can cause divergent implications for local infrastructure, politics, and business demand among different metros."

    Here's how many mortgages that were secured by millennials in Texas' other major metros in 2024:

    • Dallas-Fort Worth-Arlington – 55,732 mortgages
    • Austin-Round Rock-San Marcos – 27,196 mortgages
    • San Antonio-New Braunfels – 26,337 mortgages
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