How You Can Determine the Worth of Your Houston Home
Looking to buy or sell a home in Houston, TX? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at 832-428-6453 for a FREE home buying or selling consultation to answer any of your real estate questions.
We just wanted to take a moment to give you an update on what's going on in the Houston real estate market and the nationwide market as a whole. Locally, Houston is still going very strong. Prices are up from last year, especially in the luxury home market, where prices are up 11%. The number of homes sold is currently right on par with where we were at this point last year. As far as inventory goes, we are down about 9% from last year and there are still not enough homes out there to satisfy the demand from buyers. We have about 3 months of inventory, which is well below the 5.5 month national average.
In the national market, you may have heard through different mediums that it isn't doing so well, but that's really not the case. On a national level, this past Spring season was the best one we've had in the past 3 years. We are still looking strong as we go into the future.
One more thing: mortgage rates, in case you haven't heard, are still at all-time lows. Locking in a rate now could see you save thousands of dollars over the life of your loan. Just something for you to keep in mind.
If you have any questions, feel free to give us a call or send us an email.
