Is the real estate market making a comeback?

In Texas at least that seems to be the case.   The most recent release of the Texas Quarterly Housing Report shows that home sales in Texas were up 6% over the same period last year.  Pricing remains flat and inventory is going down.  All of this indicates that it is probably a good time to sell and/or a good time to buy.  As the market starts to come out of the doldrums prices will start to rise.  This sounds like good news for sellers, but not if you do a little analysis.  Most sellers are also buyers either upsizing or downsizing.  As prices rise these sellers may get more for their existing home but they will almost certainly pay more for their new home.  Statistically, most people buy homes that are 50% more expensive than the one that they sell.  So the increase in price on the purchase usually outweighs the gain on the sale of the existing home.  In addition, interest rates are at historic lows, although in a recent report Freddie Mac says it believes that rates have started to rise.  Time will tell for sure, but today there are great opportunities to buy a home.  Call the RozierTeam directly at 281-395-0680 and we’ll help you take advantage of the current market conditions. 

Blog Contribution by David Rozier-The RozierTeam

Broker Associate, MBA, ABR, CRS, GRI, SFR
Keller Williams Premier Realty Katy