Houston Housing Market Cooled in September '18

[Jordan Decuir]

Just a quick update to anyone interested, below is a link to the Houston Association of Realtors'  monthly market snapshot. September 2018 saw decreased transaction volume compared to September 2017. Much of this could be driven by the incremental early-September 2017 transactions that pushed from the end of August 2017 as a result of Hurricane Harvey, tight inventory, and Back-to-School effects (this happens every year so I don't know about the validity of this driver however, but it is something that HAR points to). We could also be looking at a general cooling of the Houston market in general as the major driver for the year-over-year monthly decline in September 2018. Year-to-Date however, total transactions and median prices are still up (~5.8% and ~3% respectively) in Houston as a whole. 

Note as well that the data shows that rents are down.

Obviously real estate is HYPERlocal, but this general market data helps with the macro-level data analysis for all of us as well. Happy Investing to All!

https://www.har.com/content/mls

[Sam Craven]

and james iirc if you look at the data the luxury market recovered some while the 800k  ish price point continued its decline.  In the neighborhood where i live in the heights the $1M+ market cooled way down this time last year but as of late that market has been accelerating.  Great thing about houston is we are so spread out we can play so many different sub markets as the general market shifts around.