The FRESH Report is IN!
Interesting things are happening in the Houston Market last month.
List prices are up 34.5% over the $321,000 average we had 4 years ago, and even up marginally at 2.1% from a year ago.
What I am noticing month by month is our overall inventory is slowly but surely growing.
We are still at almost 20% lower inventory than we had 4 years ago, but I do see that shifting as the months go by.
In my daily conversations with you all, I am hearing the same thing over and over as well. Lots of people still have a plan to move, but they are currently locked into mortgage rates that are sub 4% or even sub 3%.
This makes moving mentally painful for some as they are not fans of what the new payment would be in the target house.
What this is causing, is a backup of demand to both buy and sell in the housing market and I believe were in a calm before the next storm.
If the rates come down here in the next 12-18 months we will see the market pick up and prices begin to rise again. It will be a more attractive time to move, but remember how difficult it was to win a house in 2021?
Winning was very hard. Buyers were exhausted.
The bottom line is...there will always be some facet of the process that isn't optimal.
So, like every other part of our lives....we always get to "choose our hard."
I encourage you to look at whatever your situation is and realize none of the pains are permanent.
Be decisive and do what you need to do.
Please call our team anytime if you've got questions about the market or if you'd like to have any kind
of Real Estate conversation.
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We must all suffer one of two pains:
The pain of discipline, or the pain of regret.
The difference is:
Discipline weighs ounces.
Regret weighs tons.
-Jim Rohn