- For Summer 2023 -

Improving Market Sees High Demand for New/Remodeled Homes

  • After a late 2022 pause sparked by higher interest rates, our market is improving again

    • May single-family home sales were down 10.4% year-over-year—the lowest rate of decline since June 2022

    • Compared to pre-pandemic 2019, May sales were down just 1.3%

    • Compared to 5 years ago (2018), May sales were up 6.4%

  • Inventory increased in May to 2.8 months supply—still well below a balanced market

  • New homes are preferred and made up 25% of May sales

  • Median price is up almost 40% compared to pre-pandemic 2019: $340,095 vs. $249,993

  • Sellers: Great time to sell new/remodeled homes & now’s the time to update…

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- For Spring 2023 -

Rates, Recession & Rebound — The 3 Rs of the Houston Housing Market

  • Rising mortgage rates have tapped the brakes on the market
  • Inflation & fear of recession have caused a bit of a pause for buyers & sellers
  • Prices continue to rise, but at a modest rate & we should expect some decline
  • Homeowners with low interest rates are staying put so there are fewer homes available
  • More homes expected to come on the market for spring selling season
  • Sellers: Low inventory & pent up demand mean it’s a great time to sell
  • Buyers: Easing home prices continue to be good news for buyers not wanting to compete in multiple offer situations

Year-over-year home sales have fallen each month since April of 2022 as our…

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- 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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