Are you looking for the perfect time to purchase a new home in Houston? According to the Houston Business Journal and data from NerdWallet, winter is the ideal season for price-conscious buyers to buy a home in Houston. During this time, there are usually fewer homes on the market, and sellers who list their homes for sale in winter tend to be more willing to negotiate the price of their home. You can find more deals on repair homes during the winter, while it may be easier to find a house ready to move in during the summer months. Houston is a neutral housing market, meaning that prices tend to be reasonable and homes stay on the market for a typical period of time.
After learning more about the best time to buy, you might be wondering which area of Texas is the best place to call home. Deciding the right time to buy your dream home in Houston can take time and research, but it can end up saving you thousands of dollars on the cost of your home. There was a time when Houston seemed immune to the ups and downs of real estate cycles, but now it seems that it has caught up with the pace of the national average. At present, the desire to own a home remains strong, but the combination of high home prices and mortgage rates will make it difficult for many first-time buyers to afford one.
As they continue to compete for potential investment properties in the lower end of the market, challenges for first-time homebuyers will continue to exist. Like all housing markets, the prices of new homes for sale in Houston fluctuate depending on the time of year. Economic conditions in Texas are changing rapidly, and a knowledgeable real estate agent will keep you informed about the best times and places to start your housing search. The average price rose 14.7 percent, which is also below the all-time median high reached in June.
The actual time it took to sell a home in September went from 29 to 37 days, giving buyers a little more time to consider their options. And while house prices have risen here during the pandemic, sales prices are falling from their record highs in May and June, according to data from the Houston Association of Realtors. According to the Houston Business Journal and data from NerdWallet, if you're looking for an affordable home purchase in Houston, winter is your best bet. Early January is an ideal time for price-conscious buyers as there are fewer homes on the market and sellers are more willing to negotiate.
A knowledgeable real estate agent can help you explore your options and make specific recommendations about which neighborhoods are best for finding your dream home and when is the best time to buy a home in Texas.