On Your BLVD

- For Late September 2022 -

Balancing Market Remains Strong Despite Low Inventory

  • Sales are lower than in 2021, but when compared to a normal year (2019), they’re still up
  • Prices are steadily increasing as inventory remains historically low
  • Interest rates have risen to 6.75% and we don’t expect them to drop anytime soon
  • Those with low interest rates are staying put so there are fewer homes available
  • Sellers: Less inventory than in normal times, so still a great time to sell
  • Buyers: It’s a better time to buy as the market continues to balance

As we enter the fall selling season, our market continues to balance. While headlines may be focused on how single-family home sales are down compared to the unprecedented sales

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- For Early July 2022 -

Mortgage Rates See Largest Single Week Drop Since 2008

  • Mortgage rates dropped from 5.7% to 5.3% for the week of July 7
  • The gap between list price and sales price is narrowing
  • Historically low inventory has been a factor in single-family home sales being down
  • Sales are typically slow in July so we should not be comparing to early 2022 sales
  • Sellers: Still a fantastic time to sell your home
  • Buyers: Better time to buy as the market slowly starts to normalize

Mortgage rates have dropped by half a percent over the past two weeks (from 5.8% to 5.3%). While this is a good sign for buyers, we shouldn’t overreact as we expect mortgage rates to fluctuate heavily in the coming months. In the big picture,

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- For February 2022 -

The Houston real estate market continued to soar in February with year-over-year sales up in every major category, from single-family homes to country homes to townhouses. Prices also continued to rise by significant amounts in February and inventory remained historically low.

Year-over-year single-family home statistics saw huge increases across the board: sales (23 percent), average price (13 percent), and median price (19 percent). As one major indicator of the strength of the market, February single-family sales increased by at least 33 percent for every price segment of $250,000 or higher.

This strong market is widespread too, with nearly every MLS area seeing a year-over-year increase in single-family home sales

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- For January 2022 -

Simply put, we are in unprecedented times here in the Houston real estate market. We’ve been in an accelerating market since about 2013, but due to increased demand and historically low inventory, our market has really reached an entirely new level. Every major January statistic (sales, median price, average price, etc.) in every major category (single-family, townhouse, country homes, etc.) was up significantly over last year, which was the single best year we’ve ever had in the history of Houston real estate!

This boom in sales numbers and pricing is not confined to a few “hot” areas either. It really extends to all parts of the Greater Houston area, from central Inner Loop neighborhoods to far outside the loop, and

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Houston's home sales numbers for October were released on Wednesday and you may have already seen quite a few headlines about how home sales are slowing. We encourage you to read beyond these headlines though because they aren't telling the real story.

 

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One thing we've learned since the initial stay at home order back in March is that home really is essential and real estate activities must go on, but we can definitely be smarter and safer about them given the current public health climate. Boulevard Realty was not one of the first firms to jump back on the Open House bandwagon. We waited until we had a plan that we were prepared to enact that would focus on protecting the health of our sellers, potential buyers, agents and staff. We also take great care to customize showing requirements to align with individual sellers' needs or concerns. Reach out to one of our agents to learn more about how we are putting our clients' and the public's health on the forefront of our business. 

 

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Two kinds of tests are available for Covid-19: viral tests and antibody tests.

  • A viral tests tells you if you have a current infection.
  • An antibody test tells you if you had a previous infection.

State of Texas Map of Covid-19 viral and antibody testing: click here 

The following locations offer free coronavirus testing but require that you call ahead to get screened before showing up to the test:

Harris County/ City of Houston

People can visit ReadyHarris.org or TXCOVIDTest.org to use an online screening tool or call the Houston Health Depart's Covid-19 call center at 832-393-4220 to be screened. People who meet testing criteria will receive a unique identification code and instructions on where to go for testing. These sites only

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The first of our weekly market updates with Bill Baldwin, broker and owner of Boulevard Realty. In this installment, Bill provides an overview of general market trends as he sees them, including the precarious balance of supply and demand during an intense period of disruption. Bill also describes options for sellers, including standing pat and using this valuable pause in some segments of the market to spruce up listings and focus on the lifestyle and sanctuary that our homes and neighborhoods can provide. For buyers, Bill covers lending activity and changes in light of tumult in banking and financial markets. Finally, we answer questions about homebuilding, buying in up-and-coming areas, and the role of the Realtor in this new real

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There is no shortage of news about the spread of COVID-19 (also known as coronavirus). In just a few short weeks COVID-19 has emerged as a significant global disruptor with a growing public health impact in America: schools and child care centers are limiting attendance; businesses are instructing employees to work from home; community events are being cancelled; and health care systems are showing strain. Here in Houston, you know we are taking the risk of community spread seriously to have cancelled the Houston Livestock Show & Rodeo, which will cost us substantially in lost wages and sales tax revenue.

First, here's what Boulevard Realty is doing:

  • Our office will remain open for normal business hours and operations. Our goal is to maintain
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If you've been to our office lately (927 Studewood, Suite 200), you'll notice that someone's been drawing on the walls!

And, we couldn't be more excited about it!

Boulevard Realty (and its agents) pride themselves on giving back to the communities in which we work. As a fun way to showcase our impact and the causes we're passionate about, we're adding every organization we've donated to, to our wall. Stop by often to see what new organizations are being added every day and see the difference our agents make in their communities...and feel free to stay a while! If you haven't tried it out yet, our Yourspace, co-working space is open to the public 7 days a week, courtesy of Boulevard Realty (just another way we love giving back). 

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