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Today, I want to give you a late summer market update. Our sales are fantastic, and there are many buyers in the market.
The biggest difference between the market last year and this year is the number of sellers. We have about three times as many sellers today than we did in 2014. This is good news for buyers because there are more properties to choose from.
The biggest difference between the market last year and this year is the number of sellers. We have about three times as many sellers today than we did in 2014. This is good news for buyers because there are more properties to choose from.
Days
on market is up year over year, and the number of homes going off the
market unsold is up by 70% as well. We're at the point where two out of
every five homes on the market will not sell this year, which is a huge
change from 2014.
As for interest rates, right now they are steady. There was a rumor that they would go up in September, but that remains to be seen. If interest rates do go up, I don't think there will be a huge impact on buying activity. However, higher interest rates will affect affordability for buyers.
If you have any questions about the Houston real estate market, give me a call or send me an email. I look forward to hearing from you!
As for interest rates, right now they are steady. There was a rumor that they would go up in September, but that remains to be seen. If interest rates do go up, I don't think there will be a huge impact on buying activity. However, higher interest rates will affect affordability for buyers.
If you have any questions about the Houston real estate market, give me a call or send me an email. I look forward to hearing from you!
