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There’s been a lot of news lately concerning the national real estate market increase. The market is getting stronger. What I want to tell you today is how this affects Houston’s own real estate market by comparing how its recent history has fared against national trends.
Nationally, from 2001-2005, we underwent a boom. From 2006-2010, the cycle reversed and we experienced a bust. From 2011-2015, we were in recovery mode. Projections show that, by all accounts, 2016-2020 will be another boom. This bounce back is expected to be the result of the number of homes sold and the general demand of housing rather than an increase in pricing.
"Through the years, Houston’s market remained steady."
In some cases, Houston’s regional market worked against this national ebb and flow. But through these time periods, overall performance remained steady. No extreme highs or extreme lows. This year has been no different, thanks in large part to the resolve of the greater economy in general.
I hope this comparison gives you a more comprehensive idea of what to expect going forward. Be sure to click on the video for a more in-depth, year-by-year statistical analysis. If you have questions about your specific neighborhood or area, we’d be happy to answer them. Just shoot us an email or give us a call.
