Houston’s real estate market continues to be on a streak for the third month in a row. Although fewer homes are being listed, inventory homes are at the lowest level in five years.
Interest rates continue to be at an all time low, but housing options are beginning to be harder to find. Active listings decreased by 23% in August as families settled in for the school year.
The Greater Houston area market reported a 6% year-over-year increase in single family home sales in August. High-end homes from $500,000 and up saw significant increases ( $750,000+ increased 40.3%, $500,000 - $750,000 increased 34.4%) while middle bracket homes ($250,000 - $500,000) increase by 18.3%.
Many home buyers are turning to new home sales due to the lack of resale inventory, low interest rates and the ability to personalize for their current needs. Visit Tavola today and find your families dream home.
SOURCE: Community Impact