Thursday, June 23, 2016

What’s Trending in Houston Real Estate?

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We’re definitely in a strong seller’s market. Right now the Houston area has a low inventory of homes due to more people looking to purchase a home than there are homes available for sale. Great rates, low prices, and a lack of other people selling are all factors that shaped this supply and demand.

Regarding the state of home values, we’re currently going through a market upswing. Furthermore, economists have predicted that we will continue to see appreciation over the next few years. Yet another reason to purchase a new home!

The average number of days a listing stays on the market can vary, but right now that number is very, very few. With listings being made available on the internet and through various media apps, homes are typically gone within two or three days. If it’s a nice house in a nice area and it’s priced right, it will likely be under contract in a week or two.

"Overall, now is a great time to buy or sell."

The demand for both homes in the suburbs and properties very close to downtown are heating up. As a whole, Houston and its entire metro are a very competitive market across the board. Overall, now is a great time to buy or sell. If you’re selling, your home will sell if it’s priced right and put on the market. If you’re buying, interest rates are still historically low, and home values are still down compared to where they will be in three to five years.

If you’re looking to either buy or sell, give me a call or send me an email.