The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1 But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, Continue Reading
A Return to ‘Normal’? The State of Real Estate in 2022
Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.1 However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of Continue Reading
Market Update – Spring 2021
While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last? When COVID-related shutdowns began in March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether or not to put their houses on the Continue Reading
Houston Area Market Update
The Houston area MLS statistics for 2019 (through April) were currently released. The good news is that our local market is strong, and home sales are up 2.2% from a year ago. Several factors contribute to our strong housing market: Lower interest rates, improving oil prices, steady economic growth, and an increase in the local housing supply. Single family home prices have Continue Reading
