Houston Market Update

Good news for Houston homebuyers and sellers! The housing market is showing positive signs as we head into spring. Here's a quick snapshot:

Sales are Up: Overall sales have increased for 3 straight months, with February seeing a 7.6% jump in single-family home sales.

Luxury is Leading: The high-end market is surging, with sales of million-dollar homes rising a whopping 48% year-over-year.

Prices are Stable: While there's a slight increase in home prices, it's at a much more moderate pace compared to the past.

Inventory is Growing: There are more homes on the market, giving buyers more options.

Days on Market are Lower: Homes are selling faster, averaging 57 days on the market compared to 64 last year.

    What This Means for You:

    • Buyers: You'll have more choices and potentially less competition, especially in the non-luxury market segment.
    • Sellers: The market is still favoring sellers, but with rising inventory, it's important to price your home competitively.

    Overall, the Houston market is looking balanced, with opportunities for both buyers and sellers. If you're thinking about making a move, now might be a great time!

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