Why Are Homes Sales Surging?
The Houston real estate market is stable and The Woodlands has been touted as one of our nation’s hot spots and top 10 places to move to.
As you can see from the report below, residential real estate sales surged in July?
Here’s Why?
1. Consumers and prospective home buyers are feeling better about the economy. Postponed decisions to buy have be reversed.
2. Prospective home buyers believe that mortgage rates will rise in the future.
3. The First Time Home Buyer Tax Credit is fueling home sales.
4. Low mortgage rates and motivated home sellers have amplified the purchase power for qualified buyers. You can buy more house for your money that ever before.
What About The Future?
I believe home sales will continue to flow. Historically, sales ebb as we enter late summer and early fall. This year, I don’t think seasonality will kick in until late November. Pent up demand, low mortgage rates, excellent selection and homebuyer tax credits will fuel sales.
While it’s true sales have surged, the challenges of moving from executed contract to approved financing, property appraisal and successful closing are greater than ever. The Home Valuation Code of Conduct is having and adverse effect on appraisals. As our government rolls out new plans, rules and regulations, it will be more important that ever to choose the right agent.
If there’s anything we can do to help you, let me know. Ken Brand – 832-797-1779
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