Houston's population is 6.9M, with a total workforce of 3.0M. The labor market grew by 113,200 jobs over the past year, up by 3.7%. The median household income in Houston is $62,900, 1.9% higher than last year and 2.5% above the national average of $61,372. In the housing market, total permits issued totaled 52,206 over the last twelve months, up 16.9% year-over-year.
Houston has 1,181 active new home projects on the market, 4.1% fewer than the 1231 from last year. The average list price in the market is $306,420, 1.0% lower than last year and 4.3% below the national average. Over the last three months, new home contracts increased by 8.3% to 6,597. Houston and Richmond had the highest concentration of the new home contracts in the Houston market.