With spring comes the welcoming of another season: the annual springtime seller’s market. Low inventory levels are inching sales prices higher and dropping the number of days that homes are staying on the market. With interest rates remaining unexpectedly low, there is even more incentive for buyers to competitively bid on new listings.
In the Houston region, for the week ending March 27:
• New Listings decreased 3.1% to 2,416
• Pending Sales increased 13.6% to 2,016
• Closed Sales decreased 17.5% to 1,349