The cost of most single family homes in the greater Houston area continues to go up...and local real estate expert Mike Weaster says from inside the loop to 60 miles out, both old and new homes are appreciating. "A lot of the outlying areas seem to be doing very well --- but remember, a lot of this is new construction. The increase in values range from 15% to 25% in the last 18 months."
With low interest rates continuing for a while, new people moving in from out of state and home owners wanting to cash out their increasing equity, the boom hasn't stopped yet. Weaster says the economists he consults see the trend continuing into 2nd quarter 2022. "Most of the economists whom I talk to or follow all agree that in the rest of 2021 into 2022, the prices will continue to appreciate."
The demand for housing in the Greater Houston Area is going strong. Often houses stay on the market only for a few days and sell for up to 25% more than they would have last year. Weaster sees housing in all the counties around Houston still being great for the seller.