Tagged : Houston housing market update

Found 2 blog entries tagged as "Houston housing market update".

- 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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