What's up with the Real Estate Market and Interest Rates?

Dated: November 1 2023

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Are you thinking of buying or selling or curious about the local market as we head into winter?

Today, I’m sharing my thoughts on what you can expect — especially if you’ve got real estate on your mind. 

First, a few bright spots for buyers:

In most major U.S. markets, including Houston home prices have stabilized. Here in Houston, the average sales price was $416,664 in September 2023, up 0.8 over September2022 -- not that far offif rom the record high Houston average sales price of $438,350 that we saw in 2022.

Fall and winter are actually solid times to buy. Why?

• Less competition

• An uptick in inventory

• Motivated sellers 

It's true that supply grows in the spring, but that also means you'll face more competition.

One more thing: Don't let the prospect of rising interest rates deter you. There are still open avenues for securing a mortgage, and should rates drop in the future, you always have the option to refinance.

On the selling side, now is the time to list your home, regardless of the season. Buyers are reaching out every day — and some of them are looking for a home just like yours.

If you're considering buying or selling a home in the coming months, don't hesitate to reach out. My direct number is 281-812-6748. I’m here to help however I can.

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Nancy David

I’m Nancy David, Realtor® with RE/MAX Associates Northeast, embodying the forward movement of real estate as a dedicated professional consultant. My approach to real estate is fueled by a genuine p....

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