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.
February Houston Housing Market – Update
February showed the first Houston housing sales decline in half a year, due primarily to limited inventory and rising home prices. Compared to February 2014, single-family home sales dropped 5.8%. Like in January, homes priced over $500,000 saw the greatest decline in sales. Inventory levels rose slightly to 2.7 months, meaning if no other homes were listed, the homes on the market right now would be depleted in 2.7 months. Houston housing inventories are still well below the 4.4 month national average, supporting a strong Houston housing market.
Home prices reached record high levels in February, the average single-family home sales price rising 4.5% over last year to just under $260,000. All indicators point to a more ‘normalized’ Houston housing market, supported by low inventory levels, high demand, and a diverse Houston economy.
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. Buyers should 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.
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