Are you an agent who currently resides in Houston, TX? As this year comes to a close, we are headed to a new year. What does 2019 have in store for you? How will real estate be affected? Here at NB Elite Realty LLC, we are here to provide you with all the information you need. If you are interested in the Houston real estate market forecast, our flat fee real estate brokers are here to help you out.
What Does It Look Like?
The market is on the rise. Homes sales are picking up in Houston where homes prices hit an average $176,000 according to Zillow. Zillow further predicts a five percent rise, yet this estimate might not take into account rising oil prices and gasoline prices. In the last 11 months alone, oil prices have risen almost 30 dollars a barrel. Because of this, the whole state of Texas is looking good heading into 2019.
House prices have reached their all-time high. 7,070 single-family homes sold in April. This is compared to 6,611 home sold the previous year. For the third straight month, the best-performing segment of the market consisted of homes priced in the $500,000 to $749,999 range, which shot up nearly 30%. The luxury market – those homes priced at $750,000 and above – rose almost 5% after being flat for two consecutive months. Sales of all property types were up 3.2%. We are flat fee real estate brokers.
Are you worried about the destruction from Hurricane Harvey messing up these numbers? Houston is one of the healthiest housing markets in the US now, with damaged homes coming back on the market and all housing related personnel and resources back in action. The average price jumped 5.2% to $305,092.The devastation of Hurricane Harvey seems well into the past now, and Houston seems to have grown stronger because of the events. It’s set to be one of the top performing housing markets in 2019.
The Houston Real Estate Market Forecast is Promising
What is unusual about the Houston housing market is how low priced homes have not sold well, yet high priced homes $500,000 to $750,000 have been inconsistent demand. That contrasts with New York, Miami, Los Angeles, San Francisco Bay Area, and Boston and the housing market in Florida 2018 where high priced homes have waned. In fact, luxury homes have dropped in Calgary, Toronto, and Vancouver up in Canada as well.
Hurricane Harvey has stimulated the construction and home rehabilitation sectors and has generated heightened demand for leased properties and property management companies in the Houston area. The Hurricane flooded homes and displaced thousands of homeowners and renters.
NB Elite Realty LLC wants to ensure that you become the best sales agent in the industry. This is why we want to shine a light on the Houston real estate market forecast. We indeed are the best real estate company to work for because we know how to become a realtor in Texas. We understand the value of a great brokerage and can be a practical resource for agents, but also know how to keep our agents satisfied and happy. We also make sure that we do not detract from agents’ incomes so that they can thrive in the market correctly. If you are interested in learning more about our services, contact us today. We are flat fee real estate brokers who are focused on making real estate agents successful and want to ensure that you make more money each transaction. We are proud to be one of the best real estate companies in Houston.