What’s going on with the Spring Texas Real Estate Market? Sales and pending sales are up over January 2010. Not significantly up but they are still up. Considering that last year at this time the Spring Texas real estate market was being artificially stimulated by home buyers tax credits an increase albeit a small one over January 2010 is significant.
Retailers holiday sales indicated an increase in consumer confidence and now we are starting to see the impact of the increase in consumer confidence in the real estate market. Tax credits were never the answer. The answer is and always will be JOBS. People are not going to empty their wallets unless they feel confident they will be able to keep earning money.
Last year we saw a lot of home sellers putting their houses on the market in hopes of capturing buyers out for tax credits.
This year we already have more inventory than we did last year AND we are a couple of months from “the season”. The advice I have for Spring Texas home sellers is put your house on the market now. The closer to the start of “the season’ its gets the more competition there will be. The competition is going to be tough so you better be ready to bring your “A” game.
The advice I have for buyers is get out there now. Yes, there may be more competition in a couple of months but there are plenty of homes to choose from now. Waiting may cost you more money as mortgage interest rates have increase over a 1/2% point in the last 6 months. Interest rates for 30 year home loans are hovering right around 5%.
Want more numbers? Check out past Spring Texas real estate market reports.
Want to learn how higher interest rates decrease your buying power? Watch this video.
The data represented is from the Real Estate Center at Texas A&M University and the Houston Association of Realtors MLS for single family existing homes in Area 13. Area 13 covers the geographic boundaries of East – I45 to West – Hwy 249 to South – Beltway 8 to North – Spring Cypress. A good portion of the houses in MLS area 13 have a Spring Texas mailing address.
We entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning... read moreWe entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning she was extremely up front and honest about exactly what we would need to do to get our house sold. We had an incredibly tight timeline, that she explained would be difficult to make - but she helped us make it happen and our house was under contract in 2 days! She had recommendations for all our home repair needs and they were all professional and fairly priced. She worked hard to really sell our offer for our new home - she was able to pull off the tight timeline, securing a rent back from our old house so we had time to move out, and a contingency for our new home. Definitely exceeded our expectations. She was so helpful along the way - as first time home sellers we really relied on her and we feel lucky to have worked with her! You will not regret working with Jill! read less