The value of metropolitan housing in Houston-The Woodlands-Sugar Land has seen a significant increase over the past year, with a 14.7% jump in prices. This is great news for homeowners and investors alike, as the market continues to show signs of growth. However, single-family home prices remain high and inventory is still limited, particularly in the most desirable neighborhoods. Despite the fact that homes are spending more time on the market this fall than during the summer, prices remain high, giving sellers an advantage. Lenders have become increasingly creative in order to entice prospective homebuyers to take the plunge in a turbulent housing market.
The Houston market has not seen the same dramatic growth as other metropolitan areas, making it less likely to experience a free fall. When it comes to buying or selling a home in the Houston area, it's wise to enlist the help of an experienced real estate agent. As an expert in this field, I can confidently say that investors, home seekers and homeowners may be wondering if the housing market is on the rise in Houston. The average price rose 14.7 percent, which is still below the all-time median high reached in June. Currently, there is a 2.9 month supply of single-family homes on the market, compared to the 1.3-month low recorded in March. The Houston metropolitan area is quite large and varied, so it's important to find an agent who is not only licensed but also local, especially if you're moving from another state.
It's also beneficial to find someone who specializes in certain neighborhoods and can meet your family and financial needs. The persistent lack of inventory and rising prices have caused potential homebuyers to wait for the storm to pass or turn to rental housing options. With a cost of living below the national average and a strong local labor market, Houston offers both big city services and affordability, making it an attractive option for many. With changing market conditions and reduced local inventory, an experienced real estate agent can help you make sure you sell your home at the right price or make offers with a competitive advantage.
