INTOWN
F CUS real estate
Resilient and Optimistic by David Michael Young
D GREATER HEIGHTS
MEMORIAL MEMORIAL CLOSE-IN
espite an incredibly challenging year for the people of planet Earth, Houston’s economy, and especially our real estate market, have remained amazingly resilient and optimistic. Single-family home sales in 2020 surpassed 2019’s record volume by more than 10 percent, even as the supply of homes withered to the lowest levels of all time. COVID helped push our real estate market from several angles. People now spend more time working and schooling from home, so they want more space – a home office, a game room, an outdoor living area, and a pool for the kids. More people and companies are moving to Texas than to any other state except for Florida. Hewlett Packard recently relocated to Houston from Silicon Valley. A strained economy is keeping interest rates at record lows. It all adds up to more home sales. The outlook for home sales in 2021 is favorable as January and February have already proven to be much more active in online traffic and person showings than the last few months of 2020. We could be on track for another record year of home sales.
MEMORIAL WEST
river oaks tanglewood WEST UNIVERSITY
Photo: TK Images
March + April 2021
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