Houston Housing Market Builds Back Strength

The U.S. Department of Housing and Urban Development is sending Texas $57.8 million dollars in recovery grants to help the housing market recover from the devastation of Hurricane Harvey.

Houston realtor Lily Jang tells NewsRadio 740 KTRH we don’t fully know the extent of the need yet.  “We really need 90-days post Harvey to assess the situation, because we don’t have any data.”

Her analysis is based on her experience and knowledge of the region.  “The rental situation was really dire immediately past Harvey, but right now it’s tapered off,” she suggests.  Showings of her properties in hard-hit areas including Riverstone, Meyerland and Sugar Land have doubled in recent weeks.  “Post-Harvey the immediate need for temporary housing was very high, but now people are transitioning out of temporary housing, they’re thinking about a more permanent solution, and we’re seeing the market pick up a little bit more.”

She says there are reports of some builders facing shortages of building materials but it isn’t throwing most off schedule. “They are dealing with a shortage, but the timeline of a year to a year and a half to rebuild is still on track.

Jang’s “Home Showcase” is featured weekend mornings on KPRC-TV.

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