The Houston March Numbers are IN
The Houston Association of Realtors just released the numbers for March. The trends of drastically increasing prices with more inventory coming onto the market yet decreasing active listings continues on for another month.
Buyers are purchasing at such a frantic pace that active listings are at an all time low. There's still simply not enough inventory!
I just sold a house in Cinco for a record setting amount per foot. The house had no pool yet sold for $170 per foot and we received 13 offers to purchase it. To make matters even more difficult, interest rates are now skyrocketing! You might think this would slow down buying but it has seemingly done the opposite.
Buyers are now trying to get their 2022 purchases completed before interest rates go up anymore so there's currently a summer rush going on even before summer starts.
It's a very interesting time in the Houston Real Estate market.
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