Let the good times roll in the Houston real estate market. Houses still don’t sit on the market for more than a couple weeks.
The amazing ride continues, according to the latest report from the Houston Association of Realtors. Board member Tim Surratt says it’s still a matter of many northerners moving to warmer climes, but for some it’s a short drive. “They’re cashing out of the Austin market. We have a lot of Austinites looking here in addition to our normal California people, and Northeast people,” Surratt tells KTRH News.
Single family home sales jumped another 7.1% in January.
It’s the really nice expensive homes that are selling now, because they are practically the only ones left. When a home gets a FOR SALE sign the response is trigger fast. “Across the board and every type of market,” says Surratt. “I’m talking our second home market on Galveston, Livingston, Conroe, the condo-market, the townhome-market, the lots – all of it, across the board.”
HAR Chair Jennifer Wauhob says all good things must pass and that will include the pace of sales. She says it’s a matter of supply and demand and right now there is no way for the supply to keep up with demand. All eyes are on the FED and interest rates, talk of pending increases possibly kicking some buyers from the market.
photo: Getty Images