Wouldn’t we all like to return to the days of 2006-07 Houston real estate boom? Well, that is, if we we were promised that it wouldn’t be followed by the subsequent economic crash we experienced toward the end of ’07/beginning of ’08. While conditions certainly haven’t reached the point where they were 5-6 years ago, as we start 2012 there are continued positive indications that the Houston real estate market is relatively strong.
Low Mortgage Rates = Increased Demand for Houses
Source: Marketwatch
All things equal, lower mortgage rates should spur increased demand for houses, whether that shows up in prices or in transactions.
Houston-area Employers Created 79,500 Jobs Over the Past Year
The economy may be rough in other parts of the U.S., but in Houston it’s looking more and more like it’s taking off. A state agency reported on Friday that Houston-area employers created 79,500 jobs over the past year, including robust gains in the oil and gas industry, manufacturing and health care.
Source: Houston Chronicle.
Houston was also named #3 on a Forbes list of “Where Jobs Will Be in 2012”.
Pending Homes Sales Are Up
Some good news on housing came from pending-home sales data, which jumped 7.3% in November to reach a 19-month high after a 10.4% gain in October. “This report adds to the belief that the weakest link in the economy, housing, is starting to come out of it,” says Joel Naroff, chief economist of Naroff Economic Advisors.
Houston Has Beautiful Weather
According to Wikipedia, Houston’s warmest month (on average) is July at 84.5 °F, and the coldest month is January at 54.3 °F. These high and low average temperatures are music to the ears of people who are used to the bitter cold of the Northeast and Midwest.
If you are thinking about listing your home or are looking for a new home, please contact a Keller Williams agent today!