New Month, New Report
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The HAR Fresh report is out and here are the stats for the month of November. Listing inventory is up a whopping 68.7% to 23,372 total properties available for sale in Houston. What this means is, if you are a buyer, your options are growing and we're seeing some sellers being willing to negotiate from their list prices, which is quite the difference from a year ago at this time. List prices are still up marginally at 6.7% higher than the same month last year. We are seeing a small listing slowdown of new properties as we head into the holidays. This is typically the slowest month of the year, but that said, there will still be more than 7,000 sales in the month of December. So when we say slow... we mean a small reduction in volume. Some part of the populace will always need to move. Some good news in the mortgage rates department is that were seeing a bit of a drop off from the peak. Rates are down in the mid 6's from the mid 7's a month ago. This is actually the fastest rate drop on record and some of the forecasts We've been reading are saying they think we'll be out of the 7's for good. Sounds good! We are here to serve you if you have a Real Estate need. Want to know more about how our team works?Click HERE for our seller info package.
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