As I said last week, the market is shifting by the minute. This week, the market continues to move, giving more advantages to buyers. FINALLY, right?!
Don't get me wrong, homes are still being priced higher than average, but with fewer buyers to compete with, you have a much better shot at negotiating than even just four weeks ago.
In April, the National Association of Realtors estimated that about 10% of Houston home buyers were priced out of the market due to rising mortgage rates. HOWEVER, homes priced between $500,000 to just under $1 Million are having no issue being sold or purchased, with sales of homes in the price range jumping 38% in May 2022.
New listing inventory is up 9% locally and 30% across the country to their highest level this year - so with all that being said - BUYERS, it's time to take your shot at finding the right home for you.
If you have any questions, don't hesitate to give me a call! I feel very confident we will find you that perfect place.