It's been two years since Houston's housing market went into a frenzy. Since then, the market has slowly been returning to normal. The Houston Association of Realtors released a report in October that shows that home inventory is increasing, while home sales under $500,000 have been dropping for the past six months. This could be a sign that Houston's real estate market is finally returning to its pre-pandemic state.
Jennifer Wauhob, the Houston Association of Realtors Chair and Better Homes and Gardens Real Estate Gary Greene said “The Houston housing market consists of many concurrent trends.” She believes that Houston’s real estate market is slowly recovering from the effects of COVID-19, but more work needs to be done in order to return it to normal.
For potential buyers looking for a house in Houston, now may be a good time to start shopping around. There is currently an increase in home inventory, so buyers have more options available than before. Additionally, listings are not selling as quickly as they were pre-pandemic, allowing buyers more time to consider their options without feeling rushed or pressured.
Overall, Houston’s real estate market is slowly returning to normal. Although the market is not back where it was before the pandemic, home inventory and sales have been steadily increasing over time. For potential Houston buyers, now may be a great time to get into the housing market. With more options available and an increase in home availability, Houston’s real estate market is on its way back to pre-pandemic levels.
Also Read: Texas Housing Market Predictions 2022 and 2023
Hello! I'm Jay Thomas, a REALTOR in Houston, Texas. Chances are you and I share a similar passion, Real Estate! I also have a passion for building businesses, working out, inspiring others, technology, sports, and people. Connect with me on Facebook and Instagram!