Houston's population is 6.9M, with a total workforce of 3.0M. The labor market grew by 128,600 jobs over the past year, up by 4.3%. 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 1,170 active new home projects on the market, 5.3% fewer than the 1235 from last year. The average list price in the market is $317,693, 2.6% higher than last year and 0.7% below the national average. Over the last three months, new home contracts decreased by 0.1% to 6,048. Houston and Richmond had the highest concentration of the new home contracts in the Houston market.