I talk to dozens of people every day and one of the most common questions I get is "How is the market?"
I will also occasionally hear people tell me things like, "It's a bad time to sell" or "It's not a good market."
These types of statements are really rooted in very short term memory type of thinking. The basic definitions of Real Estate define a normal market as having around 5 or 6 months worth of inventory. If you look at the summary of last months Houston data you'll see we are right above 5 months inventory right now.
The challenge for most people is they recall a time in the not too distant past where we had a very abnormal market (with less than a 1 month supply of inventory) and they're comparing it to this one.
Yes it was much easier to sell a house in 2020-2022, but that level of demand in combination of lack of supply wasn't normal at all. So, many sellers would call that time a "good market."
The truth is, it was just a different kind of market.
The basic truths of Real Estate don't really change. If you need to sell a house there are several things you can do to make sure you maximize your sale price and shorten your marketing time.
If you have a phenomenal interest rate right now, that could completely alter your plans related to Real Estate, despite any life changes that may normally affect your Real Estate holdings.
The single most important thing to consider when making a Real Estate plan, is talking with a professional about your short and long term goals, and making the plan based on principles that will serve you in the long run.
I invite you to reach out to me anytime to have that conversation, even if you don't need to sell something any time soon.
I care far more about you making a good long term plan than any short term sale.
