Real Estate Market for the last week of May

Its Official......

The Atlantic Hurricane Season started this week. Heck this is Texas.....any time we could see some kind of storm or disaster that knocks out power and services for an extended period of time.

Those that have supplies and a plan live a little easier during these times than those that don't. Being prepared for these takes a bit of planning, but it will pay off when time comes and a challenging situation hits your family for a few days or weeks.

Texas Department of Emergency Management has some great information for all of us to use.

I pulled this link to share that defines a well put together disaster supply check list.

https://texasready.gov/build-a-kit/disaster-supply-checklist.html

Check it out.

4.9 Months of Inventory for the 6 counties surrounding Houston.

The months of inventory listed in the entire Houston MLS continues on at 5.2

months. There are now 38918 homes on the market and the adjusted number of sales are at 7484. New Listings this week were 4533. This is a sizable increase from the new listings from the week before. This past week 1383 homes went under contract which is higher than the new contracts accepted compared to last week. Lastly, 3013 homes closed in the last 7 days.

County……………. New Listings……..New Sold

Harris County …………..2171…………...…. 1416

Montgomery County……694…….....……....488

Galveston County….…….263………..…...…..170

Fort Bend County………..643……….……....383

Brazoria County………….215……...…...........136

Waller County....................87.........................78

Months of inventory and Active Single Family Listings by County:

Harris County………………4.6………………………….15936

Montgomery County…….…4.8.………………………….5861

Galveston County………….6.6...………………………...3029

Fort Bend County…………..4.8.……………………….…4712

Brazoria…………………......5.3…………………………. 2255

Waller County.......................5.2......................................827

And in a week things can slip and the next week they can bounce right back. It is as if the public collectively said, lets wait until the last week of the month to all list our houses before June starts. With the listing and sales this week, whiplash vibes are in full effect. Right now a steady market is good for both buyers and sellers. With graduations over, people have started their process to get moved to their next location.

Overall the market is still pretty solid with a nod towards the buyers. Sellers have real opportunity as long as the house they are selling is not over priced in the eye of the buyer.

The number of foreclosures has risen thoughout the overall MLS, however in the 6 counties I focus on, the number is right at 240 foreclosures available for purchase.

Compared to this week last year, we are down 15.4% in pending sales and down 7% in listings being removed from the market. That means we are under contract for fewer homes and fewer homes exited the market.

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

Heights / Memorial Park / Near North Home

Memorial West / Energy Corridor Homes

The Woodlands Area Homes

Sienna Area Homes

Katy Southeast Area Homes

Cypress North Area Homes

Cypress South Area Homes

Pearland Area Homes

Reach out to me and let me know how I can help you today.

What are interest rates doing?

For the past few days the rates have been coming down closer to 6% and below 6% for government loans.

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.