Houston condo and townhome sales are coming off their worst year in over a decade, construction costs remain stubbornly above pre-pandemic levels and high interest rates are deterring homebuyers. When it comes to kicking off new condo projects, economic indicators in the Bayou City would appear to point toward no go. But for those building the highest-end, vertically stacked condos with price points approaching $1K per SF, all signs are flashing yes. Those developers and other market watchers say well-off empty nesters are fueling significant demand for luxury, single-floor condominiums in Houston. Meanwhile, affluent younger entrants are entering the fray, heightening competition to secure the best floor plans in pricey new projects before costs rise further. 
Despite a dramatic increase in sale prices, Houston has fewer than 100 new high-rise luxury condominium units available — about a third of the typical availability even in much smaller cities, said Randall Davis, founder and owner of high-rise developer Randall Davis Co.“It is probably the most… Read the full story here. | 
