As you’re probably aware, the Fed has recently decided to leave interest rates right where they are. This is great news for those of you who thought you missed your opportunity to lock in an incredibly low rate on a new home. Since future market conditions are a big unknown right now, you may want to consider making your moving sooner than later. To learn what currents trend in the Houston marketplace mean for you, watch this short video! http://homesfromhouston.blogspot.com/2015/09/houston-market-snapshot.html
Buying a home? Check out our free home search: http://www.har.com/AWS/AWSF.cfm?tgt=ViewMLSListings&AGENT_NUMBER=490938
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Mike Gray Real Estate Experts
The big news lately is that the Fed’s September 17 meeting ended without any big news. Interest rates will remain low for the foreseeable future. This is obviously fantastic news for buyers and sellers in the Houston area.
The good news doesn’t stop there: the numbers are in, and it turns out last August had the best sales ever for that month, and the eighth biggest month ever! However, despite a great August, things are starting to slow down a bit as the fall approaches. Additionally, there are some unknowns in the oil industry and global economies, which is having an effect here in Houston.
The Bauer College of Business at the University of Houston isn’t feeling too confident about market conditions moving forward, especially as far as the oil economy is concerned. However, the Urban Land Institution says that despite a recent downturn in the energy industry, Houston can expect continued growth. In fact, they’re projecting that in 2018 we’re going to see another double-digit return in real estate. We’re going to keep an eye on both of these forecasts and will keep you updated on where the market ultimately goes.
As of now, homes are sitting on the market a little longer and inventory is a bit higher than it’s been recently, but we’re still seeing a competitive market that favors sellers. If you have questions about conditions in your neighborhood, or if you need real estate assistance of any kind, please don’t hesitate to reach out. We would love to hear from you!