October Fresh Report:
The Numbers for Houston's Real Estate Market for October have been published by HAR.
Listing volume is up to almost 23,000 pieces of property for sale. This still puts us around a 2.5 month supply of homes and technically this indicates were still in a seller's market.
Interest rates have finally clicked above 7% for some loan types and that is curbing demand to some degree, which is making
what normally would be an inventory shortage feel a bit more stable.
Listing volume is up slightly from last year, and pricing is still holding up over 12% higher than it was last year.
We're now entering into the historically the slower time period of the year where most people selling are in the "have to sell" category rather than the "want to sell."
This means if you are a buyer there are potentially some deals to be had, depending on how long a property has sat on the market and the seller's motivation.
If you need to sell it also means the people out looking are definitely more serious buyers, and if you've prepped the property correctly, selling in short order for a great price is still possible.
We are here to serve you if you have a Real Estate need.