Houston will be one of the most profitable locations for both traditional and Airbnb rental properties in 2020. If you’re looking to buy, our expectation is that in the next 3-6 months you’re going to be in a position to get a great deal. The latest real estate data from Zillow shows that the current median home value in Galveston is $221,587. Will the 2020 US Housing Market Be a Seller’s Market or a Buyer’s Market? We’re seeing a decrease in demand in very stylistic homes (e.g. Although Houston features a strong economy, it has been traditionally based on the energy sector in general and oil in specific. Jim Berry and John D’Angelo, Preparing for the future of commercial real estate: Redefining the talent experience, Deloitte Insights, September 15, 2020. The housing market in the U.S. could enter a recession, according to online real estate company Zillow which predicts that will happen in 2020. Romania’s real estate market is buoyed by one of the strongest GDP growth rates in the EU. While no real estate expert has a magic wand to predict 100% precisely how Houston real estate properties will perform in 2020, big data and predictive analytics have given us enough power to come up with very reliable estimates of what this performance is most likely to be. Comment and join the discussion. Up to date sales 2020 data on the US Housing Market and a look at where were headed. iBuying is an excellent tool and should be a primary option for a good percentage of buyers and sellers. Now that we know the current state of Houston real estate and understand the reasons for this performance, it’s time to get to the specific Houston housing market forecast for 2020. The 2019 housing market has been one of low rates, high demand and limited supply—particularly on the lower-priced end of the market. Because real estate was deemed “an essential service” in Houston during the quarantine, the housing market held up much better than other cities across the nation. Previously, she worked in economic policy research and fundraising. Signature Event. We have been monitoring key real estate indicators since the onset of coronavirus a couple of months ago: Based on initial trends, the pandemic and ensuing lockdown had a considerable impact on the real estate market. With a population of over 2.3 million residents, Houston is not only 4th largest city in the entire US housing market but also one of the fastest growing ones, with a population growth nearly double the national average. Located in quality neighborhoods that have good proximity to major job centers; Large lots (the primary value is the land value); Not located on a busy thoroughfare, near a highway or near a railroad; A street location with some kind of premier feature (by a cul-de-sac, on a street with a tree-filled median, etc. But it’s hard to predict how heavily the virus will impact real estate in 2020. Learn More. Houston Real Estate Market Trends & Statistics 2021 In this section, you’ll learn about the top factors that make the Houston housing market one of the strongest today, including: affordability, cash flow, and equity growth potential. This made determining fair value difficult between non-flooded homes, flooded-and-well renovated and flooded-and-poorly renovated homes. Real Estate and Housing Forecast 2018 to 2020. Each member is a specialist in their role – which is why our homes sell faster and for more money than average. In 2018, 85,000 people moved to Texas from other states, for a total population increase of 380,000. View in article Atlanta Business Journal , “ Healthiest employers awards extra large employers (5,000 or more employees): Nos. Texas Real Estate Market 2020. I don’t think that we’ll see “screaming deals,” but I think we’ll have more willing sellers and there will be opportunities for buyers to pick up things “in a lull” before things heat back up. Price decrease listings 232. Indianapolis, Indiana, is a desirable secondary market . It allows clients the best of both worlds: the convenience of a “one easy button” approach and the expert advice and insight of a real estate professional. Houses (2 days ago) The Houston real estate market is now running 7.7 percent ahead of 2019’s record pace. According to experts, yes and no. Read This. If you're looking for a personal recommendation on your situation (buying or selling a home in Houston) and how it could impact your goals, please contact Paige Martin at [email protected] Paige Martin is the #1 Individual Agent with Keller Williams in the State of Texas and team lead of The Houston Properties Team. Statistics and data is from the most recent recent available period, as of the time of this writing. To see this page as it is meant to appear please use a Javascript enabled browser. This is because people who got on the market first, reset the comps lower. Well, it depends on your rental strategy. Paige Martin was just ranked as the #5 agent in the world with Keller Williams, and has completed over $500,000,000 in Houston residential real estate sales. This platform allows us to easily pull data and comparisons for any location, property type, housing segment, etc. Back on market listings 100. According to the CDC, the main reason that COVID-19 is of higher concern is the pace at which it’s spreading: “The virus that causes COVID-19 seems to be spreading easily and sustainably in the community (“community spread”) in some affected geographic areas. However, you should keep in mind that this is only the cap level cap rate, while the top neighborhoods in Houston for real estate investing offer significantly higher values. Another excellent month for the US real estate market as sales lept and homes reached 103rd straight month of increases. We expect the market to slow down considerably. Like we said above, whenever turbulence arises, we have a flight to quality. . As recent as 5-10 years ago, the first step home buyers take is to call an agent. Although the median value of homes for sale in Houston, TX will exceed the nationwide average, Houston rental properties will remain significantly cheaper than properties in other top locations for investing in real estate such as New York, San Francisco, Boston, San Diego, and Los Angeles. The typical real estate purchase process takes about 4-6 months (including being under contract for ~30-45 days). Expect the market to dip around September to November as campaign ads and electioneering pull buyers out of the market pool. About 1/3 of Houston’s jobs are tied to the oil & gas markets. Properties are still going under contract. In the Houston Properties Team, we also have proprietary market research tools and home value calculators. Our clients don’t have to deal with the usual stress and problems that usually come with real estate transactions. Study Of How Previous Pandemics Affected The Real Estate Market. Houston Association of Realtors ... report from the real estate website Redfin. At $10, that number would more than double. For example, do you remember the Ebola virus? Support Local: How The Houston Properties Team Is Helping Out Small Businesses. All that’s left is to sign up for Mashvisor now to start searching for the top-performing traditional and Airbnb rental properties in Houston. We sat down with Lance Loken to discuss his predictions on the 2020 Houston Real Estate Market. Total dollar volume for properties sold in 2016 rose 4.2% to $24.5 billion. Neighborhoods like Energy Corridor and The Woodlands still haven’t recovered from 2015. Lastly, well-developed suburbs should continue to appreciate well. Most often, we talk our clients into NOT BUYING. If H-Town is on your mind, here you can figure out the Houston housing market predictions for next year to decide if it really fits your real estate investment priorities. Summary Houston Properties Team listings sell for…. We saw this last year, and we expect to continue seeing this trend in 2020. Quality homes should rebound strong: With over $500 Million Houston residential home sales, the Houston Properties team can help you find the best property for you and your family. Some analysts predict Houston’s job losses to reach as high as 200,000 by the end of the year. They either want something “new and pretty” or they want to be compensated for doing the work themselves. Back in 2015 (probably the closest we’ve come to a Houston housing bubble), economists also predicted a slowdown due to falling oil prices and resulting energy industry layoffs, and the then-upcoming election. Will 2020 be more of the same? after the 2008 crash, average home prices still increased for ~12 months). How about Houston? The neighborhood level, Airbnb Houston remains legal is a customized report to determine real, current and! 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