We have literally seen a rollercoaster of real estate in the last few months. Most of that is the climb up. But with talks of increasing interest rates, are we preparing for the ride down? Some speculate yes, some speculate no, but anyway you look at it, you have to look at the data on home sales vs. home actives vs. home pending.
HAR (Houston Association of Realtors) releases a monthly report that goes over the trend of the markets. The current national inventory stands at about 2.2 months where we are in about a 1.6 month supply today here in Houston.
The average sales price jumped 14.1% for a record high of $444,548 in May 2022 and the median is also at a record of $350,000 which is a 15.7% increase.
With these numbers, year to date, the market is running 4.4% ahead of 2021 record volume even with a .9% fall in home sales in May 2022.
Over the next few months, everyone at Jet is going to be keeping a hawk-eye on the actives, solds, and pendings to see where these trends are going in the next few months as interest rates are rising, the ability to afford homes to the consumer is decreasing, rents and inflation are at an all time increase.
Remember, there is money to be made in all markets, you just have to work with a team to pivot and adjust for the market. Don't get fearful but also don't get to lax either. Get with your Jet team to go over strategy on what you are trying to do as we continue to watch the markets.
