Calling all home buyers and sellers! Houston’s Housing market is at an all-time high, setting new records as it continues to project positive home sales.
According to the latest market trends prepared by the Houston Association of Realtors®’ (HAR), February’s monthly supply of home inventory declined 52.9 percent from February 2012. Homes are quickly selling, as the average days on the market have decreased by 28 percent, HAR reported. Similarly, new listings are also down 7 percent from last year’s numbers.
Despite the national market decline of home values, Houston has retained a positive equity growth, augmenting sale prices by 20 percent, HAR reported.
The latest report from the National Association of REALTORS® (NAR), suggests that factors such as employment growth, foreclosures and short-sales, new housing construction and flexible mortgage options are strong influences in Houston’s booming real estate market.
Whether you’re in the process of transcending from renter to home owner or looking to move into a bigger home, now is the time to take action. Houston’s housing market seems to have a promising future; Houstonians and newcomers alike will be expected to act quickly on this rapidly moving market.
If you have any questions regarding the buyer/seller process, please contact us. We’ll be happy to assist you.
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