Houses are selling like hotcakes in Houston


Although mortgage rates are historically low, nationwide, there's a shortage of houses for sale. But in Houston, it's a great time to buy.

Laith Daik with Texas Loan Star says it's true there are fewer homes for sale.

"Inventory levels are certainly down; January was probably one of the best months that we've seen in years. Where January is typically a slower month we had a mild winter coupled with lower rates and that got people out in the purchase market looking to buy."

But Daik says with rates so low, it'd be worth it to win a bidding war for a house, if need be. He says this is the time to buy -- even if you have to win a bidding war.

"With rates as low as they are, take advantage of these low rates while they're out there. You're locking in rates that may never come back in a lifetime; so it's just a great time to go out and buy a house here in Houston."

Daik says the mild winter and low interest rates led to a 15% increase in sales in January.


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