HOUSTON SUPER HOT MARKET - WHAT SHOULD WE EXPECT IN EARLY 2021

[Wale Lawal]

Hey Guys,

As we all know that the Houston, Texas Real Estate Market is Super HOT right now with a lot of buyers but less inventory along with the bidding-war happening every day. 

I have made offers well above the asking price for my investor clients and still out-bided by other buyers/investors (obviously they pay more). 

As and Investor and Realtor myself, I currently have a 3bed/2bath for sale in the South Houston Area and I have received multiple offers of 15% over my asking price with 12 showing the first day. 

We are expecting some foreclosures in the mid 2021, will this make a difference considering that there are also several buyers/investors waiting for that to happen so they can jump in?

I watches the Ken McElroy YouTube Video on "The Real Estate Crash of 2021" and I was thinking ..... Do you think the government can save this trend and predictions? 

When can we expect the market to favor the buyers?

I want to hear from experience investors and Realtors on what we should expect in the early/mid part of 2021.

Thank you for your contributions.

[Sandy Sawyer]

@Darnell Edwards

In my opinion, Houston is a hot market because people are moving here for jobs. Remember 2008? While people were setting up tent cities in California living on the sidewalk, Rick Perry was advertising to move to Texas. And it started working! How many people do you know that live in Katy right now that are from California? And as a California native I can tell you that Katy feels closest to home when I go there. And for a fraction of the cost of living on the coast. Now that COVID has taught people to work from home, how many people do you imagine moving here from NYC? Our houses are like mansions to them, compared to the shoebox they live in and cheaper!