What a year so far in the Houston Real Estate market!

What a year so far!  2013 started off a little slow, then around March – BAM!  The local real estate market suddenly caught on fire.  In my 21+ years as a full-time Realtor, I’ve never seen anything like this.  Homes flying off the shelves with multiple offers (sometimes within hours of being posted in MLS), prices rising double digits, homes getting offers before appearing on the local MLS due to “Coming Soon!” signs in the yards, and the biggest issue of all – lack of inventory.  Many sales are also seeing all cash offers! This situation has led to a lot of frustrated buyers, and really happy sellers.

There is still an issue with appraisals in some areas, but overall that problem appears to be dwindling.  The Houston market is finally seeing some relief on with the inventory issue, but we still have a way to go yet.

What does the future hold?  Only time will tell, but currently,  cash is king and buyers have to be quick!  This kind of market cannot last forever, though.

 

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About leehudman

I am a fifth generation native of the city of Houston, TX. I live in the eclectic East Montrose neighborhood. I have been a full time licensed Realtor for 23+ years, so I know the real estate business and I know this city! I specialize in Houston's popular inner-loop neighborhoods.
This entry was posted in "houston real estate", houston real estate, real estate, sales, selling a home, Texas and tagged , , , , , , , . Bookmark the permalink.

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