Are you ready?........Inventory Rising........Rates Rising - Rusty Cable
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Are you ready?........Inventory Rising........Rates Rising

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4.8 Months of Inventory for the 6 counties surrounding Houston.

The months of inventory listed in the entire Houston MLS continues on at 5.1

 months. There are now 38388 homes on the market and the adjusted number of sales are at 7527. New Listings this week were  4235 This is a sizable decrease from the new listings from the week before.  This past week 1396 homes went under contract which is lower  than the new contracts accepted compared to last week.  Lastly, 1874 homes closed in the last 7 days. 

 

County……………. New Listings……..New Sold

Harris County …………..1954…………...…. 851

Montgomery County……665…….....……....330

Galveston County….…….265………..…...…..122

Fort Bend County………..601……….……....224

Brazoria County………….216……...…...........110

Waller County....................86.........................35

 

Months of inventory and Active Single Family Listings by County:

Harris County………………4.5………………………….15619

Montgomery County…….…4.8.………………………….5827

Galveston County………….6.6...………………………...2987

Fort Bend County…………..4.7.……………………….…4560

Brazoria…………………......5.3…………………………. 2264

Waller County.......................5.3......................................844

 
In my scenarios, the months are broken into 10 segments of 3 days.  So an increase in months of inventory.1 is an increase in 3 days on the market.  That is not a big jump but it does add up.  This week the inventory for the whole MLS stayed at 5.1 months, but the 6 counties increased to 4.8.  May is typically a very strong month for real estate sales and it is a strong month for listing inventory. Homeowners that have kids getting out of school tend to start their listings in May.  The number of closings dipped this week.  Second week of the month typically does not close many homes to begin with. 

 

The number of foreclosures have are starting rise in the overall MLS, however in the 6 counties I focus on, the number is aright at 240 foreclosures available for purchase. 

 

Reach out to me if you would like a more personalized report for your home or if you are ready to talk about your real estate needs. 



Current Activity in Your Area

Reach out to me and let me know how I can help you today.
What are interest rates doing?
 
Interest rates went over 6% for the very best loans and borrowers. 
 
Reach out to Brent for the latest purchase and re-finance rates that fit your scenario.
512.461.8055

Thank you for taking a few moments out of your day to read over this information. If there is anything in the world I can do to help you, please let me know.

 

 Vanacor Properties

rcable@vanacor.com 281.615.3054

Broker License:  0498426
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The information contained in this Blog is an overview of different areas of the Houston Market. I will also bring in information that will be helpful for buying and selling the largest single investment a person will make.
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