HOUSTON
https://www.har.com/content/department/newsroom
- Inventory is DOWN to 2.7 months from 2.9 months in November. This decline of 0.2 months tracks exactly with each November to December timeframe going back all the way to 2016. The last time it was less was in 2015, when inventory numbers only declined 0.1 months during that same monthly period.
- Average and Median pricing is UP 5.1% / 3.8% year over year.
- Number of transactions are WAY DOWN.
- Personally, my upcoming buy-side client list is about 4 times larger than my sale-side client list.
- I closed several rental listings in December, all at good terms. Now is a good time to be a landlord, but I'm not sure rents are going to continue to climb like they did in mid 2022. If anything, they may fall this Spring.
- A lot of Sellers are sticky on their pricing, but deals can still be had. This month, I helped one of my fish buddies get a home for what I believe is a solid 15% less than market value, and there is nothing wrong with the home...it's move-in ready. Don't be emotional about deals, and be ready to move on if you can't get at least fair pricing.
- Be aware that Sellers do not care about your interest rate. Almost all of them that I've spoken to have interest rates in the 2% or 3% range and are perfectly happy renting their home to people like you (or letting the home sit vacant) until they hit their sales pricing number.
- This link has some really detailed statistics that have not been published by HAR before.
https://www.har.com/content/department/newsroom
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