Home Selling in Houston>Question Details

David Tansey, Real Estate Pro in Houston, TX

I am seeing a modest slow down in the Houston Market. It is still a seller's market, but do you guys agree there is a little inventory out there

Asked by David Tansey, Houston, TX Wed Sep 4, 2013

now?

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David,

The general Houston market is still "HOT" as many nice homes get full price offers within a few days. Areas like inner loop communities (Bellaire, The Heights) as well as suburbs such as Katy and The Woodlands come to mind.

That being said, every neighborhood is different and in general the markets slow down in the fall. However, this has not been a typical market and many buyers are still looking for homes.

2014, the sellers will not be caught off-guard and their should be more inventory for buyers to select from. It may be a bit cooler market, but honestly this will be welcome relief as both buyers and sellers should be happy. Higher prices for sellers and more inventory for buyers to choose form.

Mark McNitt
m 832-567-4357
Bernstein Realty, Inc.
1 vote Thank Flag Link Wed Sep 4, 2013
In Portland it has cooled off a little bit too. Part of this is just the summer coming to an end, but that is combined a little with interest rates rising. We're still strong out here, but cooling a bit.
0 votes Thank Flag Link Thu Sep 5, 2013
We saw a about 100 basis point uptick in mortgage rates. I wouldn't be surprised if buyers are holding off just a bit to see if the rate will drop. Otherwise demand for housing in Houston is still very strong.

David
david.tran@sdrsells.com
Sons & Daughters Realty
0 votes Thank Flag Link Thu Sep 5, 2013
In Cypress it has cooled significantly. Homes over $350,000 have higher DOM. But, homes between $100,000-$150k are still moving quickly if priced and staged well.
0 votes Thank Flag Link Thu Sep 5, 2013
Mr. Tansey,

As my peers have mentioned, there are some areas that are still "hot" and if a property is priced right, it does move very quickly. The slight dip perhaps could be that most folks who wanted to settle before the school year started have made their moves already. There is still a high demand for homes in certain areas and I hear new homes are still trying to meet completion deadlines due to the high demand.

It is true that if you want to get good interest in a listing, you have to prepare the home and price it right.

I think homes in certain higher price ranges have more inventory options as opposed to those falling between $200,000 and $400,000.

Thank you for your post - brings good input from various areas.

Persis
REALM Real Estate Professionals
713-294-7747
persis.realtor@gmail.com
http://www.har.com/persis
0 votes Thank Flag Link Wed Sep 4, 2013
end of Summer tells the story. Yes, I believe the market has slowed a bit, but there is still many buyer's, seller's, lessee's, etc....... still pretty busy for the back half of Summer.
0 votes Thank Flag Link Wed Sep 4, 2013
I'm mostly a listing agent and my last three homes went under contract (over full price) in two days or less. However, I am seeing a bit of an uptick in inventory in certain areas of town. If I get the listing and it's in good shape and price it right at the start, I can sell it fast. I'm loving it, but feel for the Buyer's agents and the Buyers having to put in high offers and be rejected in multiple offer situations.
0 votes Thank Flag Link Wed Sep 4, 2013
Hello,

I'm not quite sure that is correct. Last month Houston had a record number of homes sold in the city's history. It is true we are currently at about a 10 year supply low in terms of housing inventory. I hope this helps.

Nadeem - Realtor

nadeem@Qrealty.biz
281-795-0715
0 votes Thank Flag Link Wed Sep 4, 2013
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