Cain Grantham

Always weigh your options and have a plan in place before you purchase a home.

For a plan tailored specifically to fit your needs, reach out and I’ll be happy to provide you with a map ❌ 🗺 🏡 🔑

Don’t fall into these homebuying traps you’ll regret later Buying a home is a weighty, long-term decision. In a heavily-tilted seller’s market the risk of buyer’s remorse is high.

HOUSTON REAL ESTATE SHOWS STRENGTH AND STABILITY IN AUGUST.

After a down July, sales return to positive territory, housing supply improves and prices moderate while continuing to best last year!

After the Houston housing market’s 13-month run of positive sales was abruptly interrupted in July, August saw a return to increased sales volume with inventory levels improving and prices showing signs of moderation while remaining higher than last year. These trends were facilitated by an influx of new listings and strong ongoing buyer demand. July’s sales decline was an anomaly with volume that could not rival the unprecedented surge of closings in July 2020 following COVID-related market disruptions.

According to the Houston Association of Realtors (HAR) August 2021 Market Update, single-family homes sales rose 8.5 percent versus last August, with 9,890 units sold. That is up from 9,118 sales in August 2020. On a year-to-date basis, local home sales are 17.4 percent ahead of 2020’s record pace.

Homes priced from $500,000 to $750,000 held the lion’s share of sales volume with a 48.5 percent year-over-year increase. That was followed by the $250,000 to $500,000 segment, which rose 31.8 percent. The luxury segment, comprised of homes priced at $750,000 and above, saw a 30.5 percent year-over-year jump in sales. The single-family home average price increased 14.0 percent to $380,233 and the median price climbed 15.2 percent to $310,000. Pricing has eased a bit since setting record highs in June.

Sales of all property types rose 9.2 percent year-over-year, totaling 12,036. Total dollar volume for August shot up 26.7 percent to $4.3 billion.

“The Houston housing market is beginning to show signs of easing, which was to be expected with summer behind us, schools back in session and inventory levels still exceptionally low, albeit improving,” said HAR Chairman Richard Miranda. “We are also hearing anecdotally that there aren’t quite as many competitive bids on property listings as we observed earlier this year, which drove prices into record territory in June.”

Source (Har.com)

HOUSTON’S REAL ESTATE BUYING BLITZ PERSISTS IN JUNE
Consumers continue to snap up homes despite tight inventory and record prices

HOUSTON — (July 14, 2021) — Houston real estate held to record territory in June with buyers continuing to seize upon historically low interest rates as they purchased homes from among a limited supply. Despite the strong buying activity, the pace was slightly slower in the year-over-year comparison.

According to the latest Houston Association of Realtors (HAR) Market Update, single-family homes sales were up 13.6 percent compared to last June, with 10,638 units sold versus 9,362 a year earlier. That becomes the market’s thirteenth consecutive positive month of sales. On a year-to-date basis, home sales remain 25.9 percent ahead of 2020’s record pace.

Once again, homes priced from $750,000 and above dominated in sales volume with a 136.5 percent year-over-year increase. That was followed by the $500,000 to $750,000 segment, which soared 87.0 percent. The surge in high-dollar homebuying again pushed pricing to record-setting levels. The single-family home average price rose 23.7 percent to $395,316 and the median price increased 20.0 percent to $314,500.

Sales of all property types totaled 13,090 – the greatest volume of all time. That is up 16.9 percent from June 2020. Total dollar volume for the month climbed 43.8 percent to a record-setting $4.8 billion.

“The Houston housing market is in overdrive right now, and we know anecdotally that out-of-town investors have contributed to the frenzy,” said HAR Chairman Richard Miranda. “We saw similar investment activity following Hurricane Harvey, and within a few months, the market stabilized. We expect stability to return this time around, so anyone in the market for a home who is frustrated by current market conditions needs to be patient.”

Source (Har.com)

Be on the lookout for the full report coming out June 9th!

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