Keller Williams Realty Northeast Houston strives to bring you the most current Houston housing market information so you can make the best decision on the buying and / or selling of your home.
December Houston Housing Market – Update
December marked the end of a year of record housing statistics. Record low inventory levels led to record high sales volumes and prices, all supported with the addition of around 125,000 jobs in 2014. But with the new fall in crude and expected forecasts for crude prices to stay low for the time being, analysts are predicting a slow down in the housing market in the next few months. However, what does a slow down look like? Analysts say the Houston housing market will slow down to a normal rate of growth; the key here being the word growth. The Houston housing market is desirable and buyers are still snapping up homes as they come on the market.
In December 2014, inventory dropped to a record low of 2.5 months of supply. This means that if no other homes were listed, the homes on the market right now would be depleted in two and a half months. Northeast Houston is seeing even lower levels of inventory. Homes priced $250K and above took credit for the majority of December’s sales. Average home sales prices jumped to 6.6% year over year, reaching just over $281K.
If you are serious about buying, be prepared to make a quick decision once you find the house appropriate for your needs. Be pre-qualified. In a market as hot as what we are experiencing right now, buyers must be prepared to move quickly. If you are selling your home, be prepared for quicker-than-expected offers. Have your moving plan in place. Our realtors can help you with the moving process, recommending moving companies with an all-star record and insuring the closing process on your home go as smooth as possible.
Keller Williams Realty Northeast has relationships with reputable, professional mortgage companies who are ready and waiting to help buyers get pre-qualified for a loan. Don’t have a Realtor yet? We have over 160 agents in our office who are experts in Northeast Houston’s real estate market.
Give us a call – your perfect home is waiting for you!