Currently in our local market, we are seeing that historically low interest rates are driving buyer demand, while inventory of listings is down.
What does that mean to you?
For the buyers: Houses are selling quickly, competition among buyers is causing multiple offer situations on many properties, and prices are rising. Low rates are making buying a home possible for the first time for many consumers, and allowing dreams of second homes and vacation properties to come true for many others. Now is a prime time to buy a home, and if you find a home your in love with, act quickly because chances are someone else has their eye on it too.
For the sellers : Inventory is down as many homeowners are holding out listing their home at this time. Our area does not have the months of inventory that we had even a year ago. Sellers who list their homes are experiencing positive results. Buyers demand is up, and prices are increasing accordingly. It is a seller’s market at this time.
CLICK the link above to watch the Houston Association of Realtor’s July 2020 market Report for the greater Lake Conroe Area.
Lake Conroe Area July 2020 Real Estate market report