July Real Estate Market Update
Posted on July 31, 2019 6:57 PM by Admin
For the first time this year, last month’s sales did not outpace last year. In fact, there was a 3.4% decrease. Never fear though, Houston is still set to beat last year numbers despite the loss of sales this month.
Do not worry over this month’s sales, the greater Houston area is still experiencing low-interest rates and a robust economy. I am sure the question is then why the loss of sales? It is anyone’s guess. It appears the environment is encouraging for buyers.
In addition, there is a rise in the median home price this month, in comparison to the previous year. According to HAR, there was a 2.9% increase from last year.
Interested buyers can breathe easy, inventory is up again this month. Inventory is up 4.4 months putting us slightly above the national level, currently at 4.3 months right now.
For more information on the July real estate market see the
blog by Onayi Silmon of The Silmon Group.
