MARKET CONDITIONS

Current Market Conditions

We should see prices stabilize if averaged over the last two years. Although some markets did see prices escalate too quickly and may see a reduction (2-5%), these are hyper-localized and based upon a very short period in April-June of 2022. We believe that the Houston real estate market will normalize to levels closer to 2018-2019, which does not indicate substantial reduction in prices.

2018 and 2019 were two of the best years in Houston Real Estate in both volume and maintained sales price growth. Conforming loan limits were raised, sales activity was good, and average days on market was between 90-120 days.

(National Association of Realtors considers a Seller’s market anytime we have less than a 180-day supply of homes.)

Average List Price & Sales Price