Housing Communication

Housing Communication ... get it? 

HAR published the latest monthly statistics on the property market last week and in the Houston Chronicle this Sunday they used it and housing sales data from 2014 and 2015, to publish a complete and exhaustive Home Price Survey. There was a lot to absorb, though sadly not enough to soak up all the rain we had on Monday!

Here’s some ‘takeaways’ you might like to ‘take in’ -

• 2014 was the best ever year for Houston real estate; 2015 was the second best ever …
• The market generally still remains pretty strong; sales are broadly tracking last year. 
• Inventory levels continue to grow, continuing a trend that started in December 2015.
• This is mostly due to the delivery of new stock onto the market.
• The market in Houston is very seasonal - sales in March were over 30% higher than in February and sales in the busiest month are nearly twice the slowest.
• Pending sales remain strong so next month should show similar sales stats to April 2015.

If inventory levels continue to rise and sales continue broadly in line with last year, an economist would argue that average prices ought to come down; basic demand and supply theory.

I read earlier today that oil could reach $60 per barrel by the end of 2016.

Maybe it’s a good time to start looking to buy? Call me, I’m never too busy to help you or a referral …