The May Fresh Report is In!
The interesting development this last month is that listing inventory has grown dramatically.
We have 21% more listings available than the same month last year citywide. It appears that the interest rates have finally begun to impact home buying.
This means over the next few months we will likely see days on market begin to extend and we may even see some price reductions in certain areas for the first time in months.
That said, there will always be pockets in Houston where demand will be super high and I still anticipate multiple offers and first weekend sales to be persisting in many of those areas.
Also, to put things in perspective, before this market craziness of the last 2 years we frequently saw homes sell the first weekend and full price if they were in the right condition and priced correctly, and even if the market begins to slow, it will signal a return to a more "normal" market.
I believe the general population growth of Texas is going to hedge us somewhat against any type of contraction that other parts of the country may experience.
No matter what changes we experience in the months to come, the key to a successful sale will be working with a professional that understands the market stats and is able to help their clients interpret the data to make sure they get under contract at the highest possible price in a reasonable period of time.
If you need to sell a home or buy a new one, please call our team. We are always available.
Want to know more about how our team works?
Click HERE for our seller info package.
Click HERE to see our current listings.
We become
what we think about.
-Earl Nightingale