Rising Home Prices are good for Sellers

posted by iHeartMedia's Scott Crowder -

Low unemployment and rising oil prices have made this a good spring for both Houston homebuyers and sellers. Across the U.S. home values are rising at their fastest pace since June 2006.

Laith Daik at Texas Loan Star says this is the time of year most of us go home shopping.

"It is the spring season so it's the busiest part of the housing year."

Daik says buyers and sellers are enjoying this time of year.

"What we've noticed is that there's a lot of people out looking, making offers; there's multiple offers on houses and so the supply is a little tight. Although rates have been going up we think the demand is outpacing the rate market so it's been a good spring season so far."

Daik says it's a good time to look for a house.

"Because of the weather generally spring time is the best because people want to get out and look during the spring when it's not so hot and also they're trying to make plans for the upcoming school year, so the activity is generally the busiest in the spring and early summer."

Daik says Houston home sales have been brisk because of rising oil prices and low unemployment. The median home value nationally is just under $216,000; in Houston the figure is just under $300,000.

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