October Market still Going Strong

Houston’s housing market remains steady despite continued concerns in the energy sector and uncertainty surrounding the presidential election. House prices continued to increase in October while sales of single family homes kept pace with trends set last year. Leasing of single family homes and townhouse/condominiums decreased slightly indicating more home buyers versus leasers. House prices are at a new high for an October. Statistically home prices are lower during the holidays because people selling really want to get their property taken care of before New Year.

HAR remains positive, their HAR Chairman Mario Arriaga with First Group said, “Even without those influences [energy sector concerns and the election], autumn traditionally marks a period of slower sales, so we are extremely pleased to see the market keeping pace with last year’s record levels."

Usually, home buying and selling takes a downward turn during the holidays due to other spending . Does that mean it is then worst time of year to show your home?

Dave Ramsey has 3 advantages to selling in your home during the holiday season including decreased competition, more serious buyers and that your house is probably already “staged”, meaning you’ve got it company ready! HGTV has tips for selling during the holidays including keeping decorations traditional and moderate, taking special care in selecting a top notch Realtor, and pricing it to sell fast. Realtor.com agrees that decreased competition is a great reason to sell during the holidays and also says Internet searches increase during the most wonderful time of the year. All of these reasons should encourage buyers too! Not to mention that the international and digital communities never stop.

All predictions indicate that 2017 will be a good year for housing despite concerns at the beginning of 2016 that the market was destined to crash. HousingWire sites several sources with positive predictions as well.