Is The Housing Market About To Change?

mroller

9 months ago

MARKET ACTION INDEX

This answers “how’s the market?”
by comparing the rate of sales
versus inventory.

To be blunt, the current market sucks for Buyers, Sellers and Realtors alike! It has been very difficult due to high interest rates, supply issues, high home prices, increasing Days on Market, price reductions, hesitant Buyers, frustrated Sellers and too many New Homes. As the Market Action Index supports, today we are on the cusp of a Buyer’s market.

However, I am predicting we are on the verge of witnessing a dynamic change in the market. Early next year, lower mortgage rates will spur increased buying activity, which will be welcomed news for both Buyers and Sellers. Sadly, though, only for the short term. As Buyers absorb supply, the needle will move to a stronger Seller’s market, resulting in shortages that will result in even higher home prices. Call it “Covid 2.0!”

September Results for Zip Code 77441

ACTIVE HOMES ON THE MARKET: The graph below compares September results to the average of the preceding 6 months. Although the total dropped in September, it was solely due to the decline in New Homes. Like Halloween, the RESALES were “scary” by climbing 15% above the 6-month average.

RESALE HOME RESULTS: Talking about “scary”, look at the results below where the number of homes Sold is nearly 50% BELOW the 5-month average, coupled with the “frightening” increase in the “Months of Supply”.

NEW HOME RESULTS: Another month of positive results for the New Homes. Notice the number Sold increased and the months of Supply decreased. The exact opposite of the Resales. This shows what Buyers are buying…

WHEN TO BUY AND SELL?

There are a lot of factors affecting the market. Uncertainty, though, means that whatever Buyers and Sellers thought the market was just a mere 30 days ago, may NOT be the market we are in today.

So, if you would like a FREE market analysis to see what your home is worth, along with insight into the current market, just reach out to us. We’d be pleased to help you decide the best time to buy or sell.

HELPFUL RECOMMENDATION

As indicated, there is a lot of volatility in the market, and this means home prices are not remaining constant. As such, we recommend that Sellers meet with at least two Agents BEFORE you List. It just seems reasonable if you’re selling an asset worth hundreds of thousands of dollars, that you would welcome as much information as possible.

NEW HOME REBATE PROGRAM

If you are considering the purchase of a New Home, please contact us. We have a Special Offer which will put THOUSANDS OF DOLLARS in your pocket.

RESULTS BY COMMUNITY

Below is a wealth of information for each Community. Just click on the link and view a quick summary that shows how each community is performing, based on the Averages for both Sales Price and Price Per Square Foot.