Looking to buy a house in southeast Texas? Good luck.
A lack of inventory on the market and increasing demand continue to fuel record home prices in greater Houston.
The Houston Association of Realtors reported a 24.4% jump in single-family sales last month, compared to the same time in 2020. One report even suggested investors, many of them new to town, scooped up almost a quarter of those homes.
Tim Surratt holds decades’ worth of experience in the industry. He said, within the last year, he’s seen more clients trade in smaller spaces for bigger places. He said it’s, without question, a seller’s market.
“Last year was the best year we’ve ever had in the Houston real estate market ever in every respect,” Surratt said. “We’re dealing with a lot of relocation buyers from New York. Anywhere in the Northeast where they’re priced out of the market or they haven’t been satisfied with their quality of life there.
