Should I buy a House in Houston TX?

By
Real Estate Agent with JLA Realty TREC # 0524744

It is difficult to make a blanket statement about whether or not now is a good time to buy real estate in Houston, Texas, as the market can vary depending on a variety of factors. However, there are a few key points to consider that may help you make a decision.

First, it is important to look at the current state of the housing market in Houston. According to HAR.com, the median home value in Houston is currently $294,500, and the market is considered to be a "seller's market," with a relatively low number of homes for sale and high demand. Additionally, the median home value in Houston was at $305,000 last year in December. This suggests that home prices in Houston are currently falling, which may make it a good time to buy for those who are able to secure a property at a lower price before prices continue to increase.

Another important factor to consider is the current state of the economy in Houston. The city has a diverse economy with a strong presence in the energy, healthcare, and aerospace industries. However, the COVID-19 pandemic has had a significant impact on the economy, and the unemployment rate in Houston reached a high of 13.5% in April 2020. However, it has been steadily decreasing since then, and as of December 2020, it is 7%. This suggests that the economy in Houston is recovering, which may be a good sign for the housing market as well.

Additionally, it is also important to consider the current interest rates. The Federal Reserve has kept interest rates at a historically low level to help stimulate the economy during the pandemic. This means that mortgage rates are also low, making it a good time for those who are looking to buy a home to take advantage of these low rates and potentially secure a more affordable mortgage.

However, it is also important to be aware of the potential risks of buying real estate in Houston. One potential risk is the potential for natural disasters such as hurricanes, which can cause significant damage to properties. Additionally, the city has been hit by flooding multiple times in recent years, which can also cause damage to properties. This can also affect insurance rates, which can be a significant cost for homeowners.

Furthermore, Houston's housing market is also influenced by oil prices. As the city is a major player in the oil and gas industry, a decline in oil prices can have a significant effect on the economy and the housing market. As of now, the oil prices are on a stable trend and not showing any major decline, but it is always a good idea to keep an eye on it.

In conclusion, there are a variety of factors to consider when determining whether or not now is a good time to buy real estate in Houston, Texas. While the current state of the housing market and the economy suggest that prices may be on the rise, the low interest rates and stability in oil prices make it a good time for those who are looking to buy a home to take advantage of these conditions and secure a more affordable mortgage. However, it's always important to consider the potential risks and to do your research before making a decision.


Tell me what you think. Do you want a deeper dive into the market or should I stay at the 30,000 feet mark and just get an overview of the Pearland real estate market? 

Watch my VLOG here: Houston Real Estate Market Trends Please subscribe and follow for all of my content about Pearland Real Estate! 

Please take a look at this video about Houston Real Estate NOW: https://youtu.be/qHp2EVNp960


Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com or http://www.har.com. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at: http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.

Remember, Danny Frank is always looking to hire new and experienced real estate agents for the team at JLA Realty.  Are you ready to move to the next level in your career?  Call me to join today or just visit my site for more information: Be sure to watch this: My video business card 

You can see my entire blog at: http://www.pearlandrealtyblog.com

Call Danny Frank, at 713-569-8102 to start looking for the JUST right house or to sell your house at the best price ever and in the quickest amount of time.

 

Posted by

Danny Frank
A Texas Realtor
JLA Realty

The Pearland Real Estate Expert

Servicing all areas in the greater Houston area and the Central Texas area


Are you getting ready to sell or purchase your house or land in the area or any surrounding areas of SE Texas? 

Helping Texans make the best real estate decisions since 2004.

Let's talk soon


FaceBookInstagramYouTubeLinkedIn Google Meeting

Search Pearland Home For Sale
Pearland Open Houses
New Listings in Pearland

Are you or someone you know wanting to become a Realtor? I am hiring both new and experienced Agents. Click HERE to find out more about working with me!  

 

 Danny Frank - Pearland Real Estate Expert

713-569-8102
Call or Text

Email me

Comments (1)

Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

The sooner most young people purchase their first piece of real estate , the more Economic Doors will open up to them 

Jan 23, 2023 06:47 AM