We are officially in the heat of Summer, and fortunately the real estate market heated up in June from the May cool off. However, buyers are still being cautious and making offers on homes only if they are a “good value” or an exceptional home.
The market under $300,000 remains strong, and many homes priced under $200,000 are still receiving multiple offers, making it difficult for buyers in that price range to negotiate.
Homes priced over $400,000 are still moving slower, and we are still seeing price drops all over Houston as buyers remain on the fence due to uncertainty on where prices will go with the slump in oil prices.
Energy Realty agents are working harder than ever to sell or lease homes, using professional staging and photography and holding frequent open houses. We will always work in the best interest of our clients, and sometimes that means encouraging clients to lease their homes until the market turns around.
Homes that were not selling leased immediately when marketed as a Lease property. I am not sure what is happening in the oil industry, but we saw an increase of executive rentals for expats in the last 60 days.
Stay tuned…. The market is a roller coaster this year!