Realtors say it's a Sellers' Market for Homes in Houston

A strong economy suggests it might be a good time to buy a home. But the median price for Houston homes is at an all-time high of $243,000.

Kenya Burrell-VanWormer is chairman of the Houston Association of Realtors.

"We are definitely in a sellers' market in Houston."

Burrell-VanWormer says demand is high.

"Right now we're experiencing a relatively low inventory of homes and when you have that low inventory and you have high demand for housing that positions the seller to be in the driver's seat."

Burrell-VanWormer says be patient and have your financing lined-up before you make an offer.

"We have a very strong real estate market in Houston; we're starting to see that the inventory is starting to become a little bit higher at the four month supply right now, but we are in a strong sellers' market so if you are a buyer, exercise patience."

HAR's May report saw a one percent rise in home sales and record highs for both average and median prices.

 

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