During the final two months of the year, residential real estate traditionally slows down to make way for holiday shopping and travel. Assessing the dominant trend of 2017, most housing markets have seen the number of homes for sale decrease in year-over-year comparisons. So much so, that further decreases in 2018 will be newsworthy, as prices would likely keep rising in a seller's market. Presently, in a thriving economy with low unemployment, agents and consumers alike still have reason for optimism.
In the Houston region, for the week ending November 12:
- New Listings increased 5.9% to 2,302
- Pending Sales increased 30.9% to 1,751
- Closed Sales increased 7.4% to 1,241