Homebuyer Demand Still High in Houston Despite Drop Across Country

Houston is bucking a nationwide trend, as homebuyer demand is still high.

Has homebuyer demand peaked? Perhaps it has across the country, as mortgage applications fell for four weeks. However, in Houston, mortgage lenders have stayed busy from summer into fall. Experts say low interest rates are fueling the market.

“We’ve never seen it at this level before, and a lot of people that were on the sidelines, a lot of millennials, younger families, first time homebuyers that are out there in the market, and just looking to capitalize on this opportunity with low rates on the market now,” Laith Daik, the president of Texas Loan Star, Inc., said.

Daik's talked with people moving to the greater Houston area from California and New York. Much of the incentive is the state's job market and low cost of living. Some are also looking for more space as they work from home amid the pandemic.

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