Houston’s real estate market is finally coming up for air. This is excellent news for Buyers who have been frustrated in their search for the perfect place to call home. Folks that have been shut out by cash offers or the clamor of competing bids can now take refuge in the calm. Average home sales have held steady at 45 days, giving Buyers the opportunity to make an informed and thoughtful offer instead of the knee-jerk reactions commonly witnessed over the last few years. Along with interest rates dropping to 4.0 percent for a 30-year fixed, there is much to celebrate in this Houston market.
But it’s not just Buyers that are benefiting. Sellers should feel confident as well. Take heart of the double digit appreciation that you’ve enjoyed over the last few years as those numbers are expected to continue to grow in your favor again this year. Take a look at the graph below. Despite rising months of inventory, home prices continue to grow at a moderate pace.