As I sit down to write this month’s market update, the sky darkens as the Solar Eclipse passes
over Texas. It’s a welcome distraction from the usual concerns of high interest rates, low inventory, and
commission lawsuits that dominate our discussions.

I’d like to think that the eclipse is a sign of change, perhaps heralding a more balanced market. But,
realistically, I know that once the moon passes over the sun, we’ll likely return to the same challenges.
However, there’s a silver lining for the cities in the eclipse’s path. According to Time Magazine, the event
could bring a whopping $1.5 billion to the states on the path of totality, including Texas.

Once the eclipse is over, it’s back to the grind of finding homes for my buyers amidst a market with
limited options. The housing market in Energy Realty’s area remains firmly in the Seller’s favor, with
inventory levels at historic lows. However, there’s a glimmer of hope on the horizon. Next week is
predicted to be the best week of the year to list a home in 2024, according to Realtor.com’s data (check
out the article in this newsletter for more insights on the housing market).

On a personal note, I’m pleased to report that Energy Realty’s listings are already surpassing last year’s
numbers. In the first quarter of 2024, we’ve listed more homes than we did in the same period last year,
and they’re selling fast. As I write this, we have 43 homes for sale or lease at Energy Realty, with 15
listings already under contract, and an impressive 42 properties sold or leased in the first quarter alone.
The Katy markets continue to see inventory levels under a 2 month’s supply, while the Energy Corridor
and Memorial markets hover around a 3 month’s supply. In a normal market, we’d expect at least a 4
month’s supply. But with pent-up demand from buyers who have been searching for homes for the past
year, properties are flying off the market at top dollar.

As we move forward into April, I’m cautiously optimistic about the opportunities that lie ahead. While
challenges persist, there’s no denying the resilience of the housing market and the determination of
buyers and sellers alike to navigate these uncertain times.

Stay tuned for more updates as we continue to monitor the ever-evolving real estate landscape.