HAR has published the full report for the January sales in Houston.
You can dig into the full report HERE and my thoughts are just below:
Every month I anxiously await to see if we're having any changes in the prices year over year, but Houston just will not let go of the values! We're up 2.7% year over year in January.
Stability like this in the face of the elevated interest rates that we have experienced is wonderful to see.
We also had more than 400 additional transactions this January vs last January across the city.
Thanks to new construction efforts, our city grows by 20-25,000 homes per year so this makes sense.
Now... listing inventory is up to just over 38,000 active properties for sale so time will tell if the Spring demand that we typically see in March-May will absorb some of this standing inventory.
While there is no predicting the future for any one listing, we are STILL seeing houses sell the first weekend on the market.
This next week we will close on a waterfront 700K Bridgeland home that we listed last month. It was an all cash purchase, sold with multiple offers the first weekend we had it listed.
The seller had done a GREAT job preparing the home for sale, and we did our job marketing the daylights out of that listing to the neighborhood.
The end result:
Under contract immediately
Smooth transaction
Happy seller!
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