Happy New Year! 2024 has kicked off with enthusiastic buying activity as buying activity doubled almost immediately after Christmas in response to a drop in interest rates.

            By December 28, interest rates eased as low as 6.61%, the lowest level we had seen in 6 months, so a lot of buyers who had been sidelined out of the market due to high interest rates raced back into the buying game.

            What will 2024 hold for Real Estate in Houston?  Only time will tell, but the signs are looking good that 2024 will be a stronger year for home sales than 2023 with an indication that interest rates will stabilize from 6.5%-7% and inventory levels will increase steadily. Houston’s economy remained robust in 2023 and will continue to be robust in 2024 with a steady influx of relocation.

            I am proud to announce that despite a much slower housing market in 2023, where some real estate brokerages saw sales drop 20-30%, Energy Realty agent remained steadfast with only a 4% decrease in sales in 2023. Our agents sold over $127 million in 2023, compared to $143 million in 2022!

            According to Realtor.com, “The median listing home price in Houston, TX was $335K in December 2023, trending down -2.9% year-over-year. The median listing home price per square foot was $179. The median home sold price was $306.3K.”

The Real Estate industry remained in the forefront of the news towards the end of 2023 with commission lawsuits rippling across the United States. The lawsuits will remain a challenge in 2024 as brokerages will be forced to raise the standards of services in order to justify the fees.

Energy Realty is ready to face the challenges in 2024, and I want to share some exciting news with you! I have made the decision take back the reins as the Broker and lead the charge of raising the standards in the real estate industry. For more information, please subscribe to our YouTube Channel and watch my Big Announcement!

            Energy Realty has always been about more than transactions. It’s about the energy we bring to every deal, the passion we have for our clients, and the commitment to excellence. In good times and bad, we are prepared to take on every challenge this industry offers, and we look forward to guiding our clients through all of their housing needs in 2024!