The FRESH Report is in!
HAR Just released the initial January Numbers.
Brand new listings are up ever so slightly over last year at 9,664, but the big story is the fact that we have 80% more listings in active inventory than we had available last year.
This sounds on its face like we must be flooded with inventory, but all that's really happened is we've moved back to a more normal level of house availability.
It's the comparison to practically zero active and available listings from last year that skews this number. We actually still have a lower inventory level than our market had pre pandemic.
List prices are still holding slightly up year over year. This is the category that I'll be watching closely to see what kind of effect these 5-6% interest rates will have on the market over the long term.
Remember the previous emails about cycles...this next couple years is the time to buy and hold investment properties as we prep for the next upward cycle that will inevitably come.
Regardless of recent changes in the market, Houston Real Estate is still sure to be a great buy and hold investment for years to come as people continue to move here from higher cost states.
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