Bloomberg says Americans are fed up with the housing market - and Houston Association of Realtors Jennifer Wauhob says things were tense here earlier this year with out-of-town buyers snapping up homes quickly at extremely high prices. But things are looking better now. "Interest rates are still low. We are starting to see fewer multiple-offer situations. If you're a buyer and you decided to wait till things cooled off, you may want to revisit your search now."
Big Real Estate Buyers are a New Force in Houston
Wauhob says home prices are still higher than last year, and we are still in a sellers' market - but more houses are coming on the market every day and they're staying on the market longer. Speaking of the cooling off, Wauhob says things only cooled off a bit here. "There was a lot of frustration. You had people who want to capitalize on the low interest rates but homes were selling in 3 days on the market and far above list price - and they couldn't compete."
She says things are looking better now. "We ARE starting to see inventory levels come up, and I think we're seeing tension easing up a little bit." Wauhob says we're still in a sellers market with prices up 15% over last year.
photo:GettyImages
we're still in a sellers' marketPhoto: Getty Images