When I wrote about the condition of the housing market in April (from my perspective), I was excited to report that activity was picking up and we were seeing multiple offers again. Perhaps I spoke to soon, because we saw a definite decrease in activity in May; although when priced right and in good condition, homes continued to go under contract in the first two weeks. However, across the board, we experienced a slow down in activity in May, and many of our sellers questioned why showings on their homes appeared to be slow.
We typically see a slow down in showing activity in the last two weeks of May as families become pre-occupied with end of school year activities and graduations, so there is no need to push the panic button yet. As we ease into June, activity is picking up again, and we hope to see the next two months remain strong in home sales and rentals.
The real estate market will follow the Energy prices, which are unpredictable, but stabilizing. The word on the street is that domestic production is picking up and companies are hiring again—good news for the U.S. and Houston!
With mortgage rates dropping again, and home prices rising slowly, it is a great time to buy! If you plan to sell this year, buyers are still particular, so contact a professional to give you the proper guidance to prepare your home to sell.
The uncertainty in the oil industry continues to impact home sales in Houston, and with the most recent downward turn of the price per barrel dropping under $50 a barrel, Houston’s home sales ease up as buyers become cautious again. This was just confirmed in an article in Houston Chronicle
1111 Eldridge Pkwy, Suite 200
Houston, TX 77077