Your Weekly Market Update: 10.13.2022

As we all know, Houston’s real estate market is shifting. Did you hear me home buyers? ShiftING not ShiftED. This means we’re still in a seller’s market. With Houston’s prices continuing to rise, and interest rates not slowing down, many buyers are asking themselves: is now still a good time to buy. There’s an old saying “the best time to plant a tree was 20 years ago, the next best time is now”. That’s how I feel about real estate recently.

Realtors, I hope you’re reminding your clients it still is a great time to purchase! Sure, rates are increasing. But so is EQUITY. You’re still being presented the opportunity to put 11-14% of your purchase price back in your pocket year over year. While we’re seeing a higher inventory rate (now sitting closer to 3 months of inventory), buyers have time to take a deep breath and make a sound reasonable decision. Sellers are also aware of interest rates, and will offer credits to these buyers to take off some of the pressure. Interested in learning more about our Houston real estate market? Contact us today to be added to our email list, where we send out a weekly market update every Thursday/Friday.