Houston is one of the most attractive cities in Texas, and it's no surprise why. Over the last twelve months, the value of homes in the Houston metropolitan area has increased by 14.7% according to the Zillow Home Value Index. The city has demonstrated its resilience and strength in the face of adversity, and its strong employment growth, affordability, low vacancy rates, and high population of young households have been key factors in its success. The average apartment size in Houston is 880 square feet, with studio apartments being the most economical.
However, Bryan Sherman, sales executive in the Bank of America division, states that “both housing market conditions and your personal financial situation play an important role in the best time to buy a home.” 40% of potential buyers in the Houston metropolitan area plan to purchase their first home alone rather than with their family or spouse, which is higher than both nationally (27%) and in any of the 10 local markets surveyed. Houston is one of the top job generators in the country and is home to a booming energy industry. Any seller in Houston will want to verify that a lender has pre-analyzed your finances and has approved a high probability of lending you the money you need. People whose homes were damaged by Hurricane Harvey have been looking to rent since the hurricane hit in late October.
The Zumper Houston metropolitan area report analyzed ads active last month to show which cities are most expensive and cheapest for rent. The ideal time to buy a home will also vary with the season. Spring is often the peak shopping season because children are about to leave school during the summer and the weather is favorable for visiting homes, inspecting and moving. Challenges for first-time homebuyers will continue to exist as they compete for potential investment properties in the lower end of the market. As an expert in real estate investments, I can tell you that now is an excellent time to invest in a home in Houston.
The city's strong economy, low vacancy rates, and high population of young households make it an ideal place for first-time buyers. Additionally, spring is often considered to be the best time to buy a home due to favorable weather conditions and children leaving school for summer break. However, it's important to consider both housing market conditions and your personal financial situation before making any decisions. If you're looking for an investment property or your first home, Houston is an excellent choice. With its strong economy, low vacancy rates, and high population of young households, now is an ideal time to invest in a home in Houston.
