IS There a Best Time of the Year to Buy a Home in Houston?
Some markets have a good time of year and a bad time of year to buy or begin construction on a family home. Houston’s market is high in the top 5 list of cities whose real estate market never slows down much compared to other parts of the country.
For example, in the Northeast, you might get the best price in winter, when weather is cold and gray, and roads are more icy and dangerous. Houston’s housing market, not so much, because the winters are not so harsh or nearly so long. Economic growth has to be considered, also. Houston has reclaimed its oil-capital title in the US, and in response to this, and the numerous corporations re-locating both headquarters and families here, Houston is still growing. In fact, Houston has been recovering from the 2008 downturn much quicker than most other parts of the country.
Due to the bursting of the housing bubble, appraisals are much more fair than they were in 2008, so if you plan to buy, build, or even just rent a home when you re-locate, you can be assured you likely won’t end up under water with your mortgage like people have ( and still are!) in other places. The short answer to the question of ,”When is the best time of year to buy or build a home in Houston?”, is: right now. Right now, interest rates are lower than they have been for decades, appraisals are fairer than they have been in several years. There are fewer foreclosures or abandoned homes in Houston than you’d find in say, Detroit, Michigan, or Las Vegas, Nevada. If you’re relocating to Houston, this is the best time to buy or build a home in years!