The total supply of homes for sale at this early juncture of 2017, coupled with the affordability of homes have made the market interesting to watch. The combination of broad personal financial situations is particularly pronounced among millennials in their prime home-buying years. While some individuals may have money set aside for a home purchase, others face educational debt, lowering their maximum affordability level. Being aware of this situational variety will help both lenders and agents.
In the Houston region, for the week ending February 12:
- New Listings increased 4.4% to 2,712
- Pending Sales increased 18.4% to 1,876
- Closed Sales decreased 1.6% to 995