Sherry Campbell | March 6, 2023
Spring is in the air, and everyone is holding their breath to see what the Spring Housing Market
will bring this year.
I wish we could see houses popping on the market for sale with the same intensity that the Blue
Bonnets are appearing all over the Texas landscape, but inventory levels remain under a 2 months
supply across Houston as we head into the first week of March.
The good news is that I saw more homes go on the market the first week of March than I have
seen in months, so there is a glimmer of hope for the buyers out there. Perhaps the sellers have been
laying dormant until the weather warmed again and they could finish their Spring cleaning.
However, interest rates hiked over 7% again last week, so we are not out of our winter market
yet. This could be a chillier Spring for the housing market as many sellers may choose not to list their
homes until interest rates drop again. If you are sitting on a 3% interest rate, it does not make a lot of
sense to sell your home with a low monthly payment and buy a home that may cost 30% more in
interest than what you are currently paying.
If you have to move or have a strong motivation to move, this is an awesome time to sell your
home as many buyers have been circling the market for months looking for the Unicorn that is that
move-in ready home in a popular neighborhood. However, you may need some guidance to make sure
that your home is not only Instragrammable, but also priced right, so this is the time to hire a seasoned
professional Realtor that can offer all of those services.
When Sellers ask me, “When should I sell my home?” I always respond with, “When the market
is moving and inventory is low.” In 2022, the market stalled by the end of May, which is usually when
Sellers are told to list, so don’t wait to list if you have to sell or move this year.
The optimistic prediction is that interest rates will drop by the end of the Summer, and if that
happens, buyers will come out of the woodwork and infiltrate this Houston market like our Texas
Bluebonnets. If you are a buyer, this is a good time to buy and maybe take on a little remodeling at a
good price instead of fighting other buyers for that Unicorn. You can always refinance your mortgage
when the interest rates drop.
No matter what the market brings this Spring, Energy Realty agents are professionals that can
guide you through any housing market.
Stay up to date on the latest real estate trends.
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You’ve got questions and we can’t wait to answer them.