Aerial view of Houston at dusk, neighborhoods in the foreground and the skyline on the horizon

Edition 04 · Week of November 10, 2026

Rates fall a third week, Houston’s convention district takes shape, and holiday lights start Nov. 21

Mortgage rates ease again, Hobby and IAH line up big projects for 2027, and two builders run year-end offers that close by Dec. 31. Here is what it all means for you.

By Michael O’Neal, Broker · REALTOR® · Facts verified November 10, 2026

The Big Stories

What everyone is talking about

Five Greater Houston stories that will shape what people pay, where they work and how the region grows.

Mortgage Rates

Mortgage rates fall for a third straight week

Freddie Mac’s weekly survey put the average 30-year fixed rate at 7.18% on Nov. 5, down from 7.24% the week before. The 15-year fixed slipped to 6.57% from 6.60%. A year ago the 30-year averaged 6.22% and the 15-year 5.50%.

Why it matters

Three small drops in a row add up, but rates are still about a point above last year. Builder rate offers, like the two in this edition, are still where many buyers find the lowest payments.

Confirmed Survey week of Nov. 5, 2026

Source: Freddie Mac PMMS, Nov. 5, 2026

Downtown Houston

A new garage opens as the $1.14 billion convention district overhaul moves ahead

The 1,000-space GRB South Garage at 1835 Bell St. is complete. It is part of a first phase that adds a 700,000-square-foot expansion of the George R. Brown Convention Center and a 100,000-square-foot outdoor plaza linking it to Toyota Center. About $389 million had been spent through September.

Why it matters

Phase 1 is scheduled to open in May 2028, ahead of that summer’s Republican National Convention. It is paid for by capturing growth in the state’s share of hotel tax under Senate Bill 1057, and city officials say no new local tax is needed.

Under construction Phase 1 opening targeted for May 2028

Source: KPRC 2, Nov. 6, 2026

Airports

Hobby and IAH line up major projects heading into 2027

The biggest is a West Concourse expansion at Hobby, nearly $500 million developed with Southwest Airlines, adding seven gates, a new baggage system and a covered walkway to the garage. It remains on schedule for phased completion starting in the first quarter of 2027. At Bush Intercontinental, the airport expects to seek development proposals in early 2027 for 183 acres of new cargo space, and a rebuilt cellphone waiting lot with fuel, EV chargers and quick food is proposed.

Why it matters

IAH is the closest major airport for Kingwood, Humble and Atascocita, and more cargo space there means more logistics jobs on the north side.

Under construction Hobby on schedule for Q1 2027; IAH cargo and cellphone lot planned

Source: Community Impact, Nov. 5, 2026

Government

Houston proposes its first park-fee increase on new housing since 2007

Houston Parks and Recreation wants to raise the fee developers pay for each new housing unit from $700 to $900, pointing to higher land values. State law caps the fee at $1,260. A public hearing is set for Nov. 12, a council vote is expected by the end of 2026, and the new fee would start in early 2027 if approved.

Why it matters

The fee applies inside Houston city limits, including Kingwood, and is part of the cost of new homes there. The fund has raised $104 million for 290 park projects since it began.

Proposed Hearing Nov. 12; vote expected by year end

Source: Community Impact, Nov. 2, 2026

Jobs and Development

Rice breaks ground on The Arc, a 200,000-square-foot innovation building at the Ion

Rice broke ground Nov. 4 on a building for research, corporate innovation and offices next to the Ion in Midtown. Rice University will take about 80,000 square feet, including its new AI Foundry. Completion is targeted for the second quarter of 2028.

Why it matters

It is aimed at companies in artificial intelligence, data science, robotics, quantum science and energy, adding to Houston’s research job base. The article did not give a cost.

Under construction Completion targeted for Q2 2028

Source: InnovationMap, Nov. 5, 2026

Humble · New Caney · The Woodlands · Spring

What’s coming to your neighborhood

Every item carries its status, so you can tell an open door from a rendering.

Humble

Open

Slick City Action Park opens at Deerbrook Marketplace

The indoor slide and air court park opened Nov. 3 at 20424 Hwy. 59 in Humble. It is the second location after The Woodlands.

Source: Community Impact, Nov. 3, 2026

New Caney

Confirmed

New Caney ISD names its 13th elementary: Crossroads Elementary

Trustees unanimously approved a construction contract of about $38.1 million with Gamma Construction on Oct. 19. The school is scheduled to open in 2028 and is paid for by the district’s $695 million bond, approved in May 2023.

Source: Community Impact, Oct. 22, 2026

Montgomery

Opening soon

H-E-B opens in Montgomery on Nov. 11

The roughly 127,000-square-foot store at 20025 Eva St. opens Wednesday, with a car wash, a gas station, a bakery and an outdoor seafood boil area.

Source: Community Impact, Nov. 5, 2026

The Woodlands

Under construction

Hwy. 242 widening is 96% done; I-45 frontage drainage runs to 2028

TxDOT’s $29.11 million widening of Hwy. 242 between FM 1488 and I-45 is targeted for the fourth quarter of 2026. A $42.63 million drainage project on the I-45 frontage roads, from Shenandoah Park Drive to Hwy. 242, is 10% complete with a third-quarter 2028 target.

Source: Community Impact, Oct. 23, 2026

Spring

Confirmed

Sprouts, Marshalls, Ross, Five Below and Planet Fitness coming to the Grand Parkway

Fidelis is leasing Grand Imperial Marketplace, about 170,000 square feet of retail at Imperial Promenade Drive and the Grand Parkway, with openings targeted for fall 2027. The 77386 ZIP code grew 56.6% from 2014 to 2024.

Source: Community Impact, Oct. 22, 2026

Houston Real Estate in 60 Seconds

The market at a glance

Median sale price$325,000→ Essentially unchanged vs. Sept. 2025

Average sale price$421,311↑ 0.7% vs. Sept. 2025

Closed sales7,030↓ 5.7% vs. Sept. 2025

Pending sales6,789↓ 11.6% vs. Sept. 2025

Active listings40,192↑ 6.3% vs. Sept. 2025

Months of inventory5.5↑ from 5.1 vs. Sept. 2025

Days on market58↑ from 56 vs. Sept. 2025

30-year fixed rate7.18%↓ from 7.24% a week earlier Freddie Mac, Nov. 5, 2026

Greater Houston single-family homes, from HAR’s September 2026 report (released Oct. 14, 2026). HAR’s October report was not out when we checked on Nov. 10, so these are still the latest figures. Inventory is up and contracts are down from a year ago, while prices are holding steady. The 30-year rate fell for a third straight week but is still above the 6.22% of a year ago. Freddie Mac publishes a new rate every Thursday. See the full market report and charts.

Sources: HAR, Oct. 14, 2026 · Freddie Mac PMMS, Nov. 5, 2026

Builder Deals of the Week

Two year-end offers, both closing by Dec. 31.

Offers we verified on the builders’ own sites. Each has a deadline and a required lender.

Perry Homes

Verified Nov. 10

Up to $55,000 in flex cash or closing costs, plus a 4.99% ARM

Year End Sales Event on select Houston homes

Perry Homes advertises up to $55,000 in total incentives as flex cash and/or closing costs, capped at 6% of the contract price, so lower-priced homes may get less. It also advertises a conventional 30-year 7/6 ARM at 4.99% initial (5.898% APR) through a buydown Perry pays. The rate is fixed for 84 months, then can adjust every six months, with caps of 5% on the first adjustment, 1% after that and 5% for the life of the loan.

Deadline: Close by Dec. 31, 2026.
Where: Only homes Perry designates for this offer in Houston. Ask which homes qualify.
Qualifications: Financing through Crestmark Mortgage or Parkstone Mortgage, both Perry affiliates. Principal residence only. One offer per contract; not combinable with other Perry incentives. The $5,400 lender incentive is counted inside the total. Bring the offer flyer to your first model visit. Rates were effective Oct. 7, 2026 and can change.

See the builder’s full terms, checked Nov. 10, 2026

Ask Michael About This Deal Get Builder Incentives

Coventry Homes

Verified Nov. 10

2.99% in year one on select homes

Black Friday Sales Event on select inventory homes

Coventry advertises rates from 2.99% (5.959% APR) on select homes. Its FHA example uses a builder-paid buydown: 2.99% in year one, 3.99% in year two and 4.99% from year three through year 30, on a $400,000 price with a 640 credit score.

Deadline: Contract Nov. 2 to 30, 2026 and close by Dec. 31, 2026.
Where: Select inventory homes in the greater Houston area. The page does not list which ones qualify, so ask the builder.
Qualifications: Financing through Jet HomeLoans, an affiliate of Dream Finders Homes, which owns Coventry. Primary residence only. The 4.99% rate applies to government loans only. The offer can change or end at any time.

See the builder’s full terms, checked Nov. 10, 2026

Ask Michael About This Deal Get Builder Incentives

Offers are advertised by the builders, not by Michael O'Neal or Keller Williams, and can change or end without notice. Rates and APRs shown are the builders' own examples. Not every buyer will qualify. Financing is subject to credit approval by the lender named in each offer. Using a builder's preferred lender is optional for your purchase but required to receive these incentives. Michael O'Neal is a real estate broker, not a mortgage lender. Equal Housing Opportunity.

See every verified deal

Michael’s Take

Keeping It Real With O’Neal

Rates eased a third week and builders are racing the calendar. Here is what that means for you.

Rates moved down again. Freddie Mac has the 30 year at 7.18%, the third weekly drop in a row. That is still about a point above a year ago, so think of it as relief, not a reset.

Buyers. Two builders are running year end offers. Perry Homes has up to $55,000 toward flex cash or closing costs, and Coventry has a 2.99% first year rate on select homes with a contract by Nov. 30. Both have to close by Dec. 31, and both come with a required lender and fine print. Read every line, and bring your own agent on the first visit.

Sellers. Houston had 40,192 homes for sale in September, and homes took 58 days on average to sell. Buyers have choices right now. Price it right and get it looking its best before the holidays.

Homeowners. Cold weather is on the way. Flood insurance does not cover a burst pipe, and your homeowners policy may not either if you did not protect your pipes. Keep the heat at 55 or higher and know where your shutoff valve is.

Questions about any of this? Call or text me at 832-797-3780.

Michael

Find Out What Your Home Is Worth Schedule a Conversation With Michael

The Local Poll

Where is your family’s go-to holiday lights outing this year?

One vote per person. Results appear after you vote.

Weekend Planner

Nov. 13-15 and Nov. 20-22

ForestFest and a harvest market in the Lake Houston area, then holiday lights in The Woodlands and Galveston and a parade in Tomball. Times and prices from the sources listed; check before you go.

Fri, Nov. 13
Treaty Oak Revival
7 p.m. · Cynthia Woods Mitchell Pavilion, 2005 Lake Robbins Dr., The Woodlands
Lawn $44.50; reserved $49.50 to $109.50; pit $119.50
Sat, Nov. 14
ForestFest at Jesse H. Jones Park
10 a.m. to 2 p.m. · 20634 Kenswick Dr., Humble
Free; free native trees while supplies last
Listed by Community Impact (Oct. 26); confirm with the organizer before you go.
Sat, Nov. 14
Kingwood Harvest Market
Noon to 5 p.m. · Town Center Park, 8 N. Main St., Kingwood
Free admission
Listed by Community Impact (Oct. 26); confirm with the organizer before you go.
Sat, Nov. 14
Kingwood Jazz Orchestra: Autumn Afternoon of Jazz
4 p.m. · Lone Star College-Kingwood, 20000 Kingwood Dr.
$30; seniors $20; students $5
Listed by Community Impact (Oct. 26); confirm with the organizer before you go.
Fri, Nov. 20
Movies in the Park: The Polar Express
8 to 9:45 p.m. · Town Center Park, 8 N. Main St., Kingwood
Free admission
Hosted by The Livable Forest. Listed by Community Impact (Oct. 26); confirm with the organizer before you go.
Sat, Nov. 21
Lighting of the Doves Festival
3 to 8 p.m.; doves, Santa and fireworks at 7 · Town Green Park, 2099 Lake Robbins Dr., The Woodlands
No admission fee listed; $5 wristband for snow play and slides
Free parking in the lots along Timberloch Place and Grogan's Mill Road.
Sat, Nov. 21
61st Annual Tomball Holiday Parade
10 a.m. to noon · Main St. from Elm St. west to Buvinghausen, Tomball
Free to watch
Downtown roads close from 7 a.m.; FM 2920 closes from 9 a.m. to 12:30 p.m.
Sat, Nov. 21
Kingwood Chorale: American Quilt 250
7:30 p.m. · First Presbyterian Church of Kingwood, 5520 Kingwood Dr.
$30; seniors $20; students $5
Listed by Community Impact (Oct. 26); confirm with the organizer before you go.
Opens Sat, Nov. 21
Holiday in the Gardens at Moody Gardens
Nightly through Jan. 2, 2027; lights trail opens at dusk · 1 Hope Blvd., Galveston
Lights trail from $24; ICE LAND from $29; Holiday Evening Pass from $55; free parking
Prices vary by age and date; check the daily hours before you go.

See the full weekend planner

Food, Drinks and Local Favorites

Three places to try

Drive-thru coffee in Kingwood, a new lounge in Spring and cocktails by the Waterway.

Dutch Bros Coffee
1261 Kingwood Dr., Kingwood
A drive-thru coffee stop with specialty coffee, cold brew, smoothies, teas and energy drinks. It is the chain’s fourth Lake Houston-area location.
Open Opened Nov. 5
Source: Community Impact, Nov. 5, 2026
Ember and Vine
23931 Gosling Rd., Spring
A restaurant and lounge in the former Butler House location, with a chef-driven menu, craft cocktails and a wine list.
Open Grand opening Oct. 28
Source: Community Impact, Oct. 27, 2026
Bar Bludorn
25 Waterway Ave., The Woodlands
Bludorn Hospitality Group’s first restaurant outside Houston, near The Woodlands Waterway, with craft cocktails and a deep wine and spirits list.
Open Opened Oct. 2
Source: Community Impact, Oct. 9, 2026

The Hidden Gem

A free nature preserve on Spring Creek in Humble

Jesse H. Jones Park & Nature Center

20634 Kenswick Dr., Humble 77338 · (281) 446-8588

A Harris County Precinct 3 nature preserve with a nature center, forest and swamp trails, the Redbud Hill Homestead and a re-created Akokisa village. This Saturday it hosts ForestFest, listed in the Weekend Planner above.

Hours: Daily, 7 a.m. to dusk
Entry: Free, including the educational programs
Things to do: Hiking and bike trails, canoe access, fishing, horseback riding, a playground, picnic shelters and interpretive exhibits
Dogs: Only on the Jones-Bender Trail, Judy Bell Trail and Spring Creek Greenway
Run by: Harris County Precinct 3

Source: Harris County Precinct 3, checked Nov. 10, 2026

Homeowner Intelligence

Cold weather and your insurance: what is covered

Know this before the first hard freeze

Last week we covered getting your pipes ready. This week: what your policy expects from you, and how to heat the house safely.

Flood insurance won’t pay for a burst pipe. A homeowners or renters policy may cover sudden, accidental water damage from one, so ask your agent what yours says.
Protect your pipes or risk a denied claim. The Texas Department of Insurance says a policy might not pay for frozen-pipe damage if you didn’t take steps to protect them, like keeping the heat on.
Leaving town? Shut off the water at the main valve and keep the heat on. FEMA says to keep it at 55°F or higher.
Power outage spoiled your fridge? If a covered event caused the outage, TDI says your policy should pay up to $500 to replace the food, often with no deductible. Take photos and make a list.
Give heaters room. Keep anything that can burn at least 3 feet from space heaters and other heat sources, and have your heating system inspected and cleaned each year.
Carbon monoxide detectors. Put battery or battery-backup CO detectors on every floor.

Sources: Texas Department of Insurance, updated Apr. 29, 2025 · FEMA, Winterizing Your Home

The cold-season risk

50%

Half of the carbon monoxide incidents reported to local fire departments happen from November through February, peaking in December, according to FEMA.

Source: FEMA

Last week: get your pipes ready

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Rates fall a third week, Houston’s convention district takes shape, and holiday lights start Nov. 21

Mortgage rates fall for a third straight week

A new garage opens as the $1.14 billion convention district overhaul moves ahead

Hobby and IAH line up major projects heading into 2027

Houston proposes its first park-fee increase on new housing since 2007

Rice breaks ground on The Arc, a 200,000-square-foot innovation building at the Ion

Slick City Action Park opens at Deerbrook Marketplace

New Caney ISD names its 13th elementary: Crossroads Elementary

H-E-B opens in Montgomery on Nov. 11

Hwy. 242 widening is 96% done; I-45 frontage drainage runs to 2028

Sprouts, Marshalls, Ross, Five Below and Planet Fitness coming to the Grand Parkway

Up to $55,000 in flex cash or closing costs, plus a 4.99% ARM

2.99% in year one on select homes

Where is your family’s go-to holiday lights outing this year?

Dutch Bros Coffee

Ember and Vine

Bar Bludorn

Jesse H. Jones Park & Nature Center

Know this before the first hard freeze

Every fact has a source

Know Houston Before Everyone Else.

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