HAR just released the Full February Market Report.
You can read the full report here and as always, my thoughts are below:
Something interesting may be about to happen.
Inventory is creeping up to the highest level we've seen in the last 5 years. With nearly 50,000 properties listed across Houston, we're at a 4.4 month supply and it will be interesting to see if there are more sales than new listings in the next 2-4 months and where that takes the supply level.
Prices are still up ever so slightly at a 2.3% increase year over year, but that's also one of the smallest gains we've seen in over a year.
That said, people are still moving here. Builders are still building like crazy, and I think the demand should be strong enough to keep us in a stable market.
Also, we do have about 400 MORE pending sales than we did at the same time last year so that's an indicator we very well may have a higher transaction count coming in this Spring quarter.
If you're thinking about moving, please reach out to me to talk about your Real Estate goals.
