Many Who Want to Buy a Home Can’t Find One

Would-be home buyers are finding a more limited supply of available properties -- in Texas and nationwide. Sales are still higher when comparing this year to last year in the Lone Star State.

Economist James Gaines with the Texas A&M Real Estate Center says national sales are off because it's harder to find that special home.

“The pending sales have been a little bit down,” Gaines explains, “because people are finding the choices more limited from the reduced inventory of homes available for sale.”

In May, Houston sales were up 7% when compared to the same month last year. When the numbers are crunched at the end of 2017, experts are expecting about a 4-7% increase over 2016.

Just like the nationwide situation, the Houston supply of homes available is down noticeably.

“Houston, for example,” Gaines says, “has been in the three-and-a-half-month range, when normal is normally around six months.”

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