A: We have definitely seen a sales increase compared to 2012. If sales continue at this pace, I think we’re going to see a great 2013 or even better.
The Houston economy is doing quite well compared to the rest of the nation. People are moving here every day for better jobs and they are buying homes in the process.
Coupled with the net rate of growth, there are the low interest rates that make a winning combination for real estate sales. What I find interesting is that I’ve had several listings this year that buyers have bid over asking price. I also have a multi-million dollar condo development for a client, and we have had a third price increase on units in less than a year. In fact, most of my clients won’t even entertain an offer unless the buyer has a pre-approval or pre-qualification letter.
Also, the renting market has skyrocketed. People moving to Houston may be looking to buy instead of rent because they will be coming out ahead. If they break even, it’s still a better advantage than renting. The market is looking good!
— Jessica Teachout, Teachout Real Estate Group
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