The trend I’ve seen over the past 3 months is that buyers are being much more cautious. The market is stabilizing and the days of buyers competing with multiple offers and coming in above list price are decreasing because the home inventory has steadily increased. When something has been on the market for more than 2 weeks, it doesn’t mean there’s something wrong with it, but it just shows that the “frenzy” we saw last year is coming to an end.
Check out the MLS report for March below…
Houston Home Sales Climb in March, Keeping Inventory Levels Down
After February’s decline in sales volume, Houston home sales returned to positive territory in March, with consumers buying newly listed homes before they ever had a chance to replenish the local housing supply. Sales of single-family homes rose 3.8 percent year-over-year in March, with most activity taking place among homes priced between $250,000 and $500,000. The high end of the market also had a gain after experiencing its first decline in many months in February.