Unlike in the past, Houston’s local economy is a lot more diverse and a lot less dependent on oil. Houston Housing Market Forecast for 2019. Daniela is Marketing Director at Mashvisor. But will these Houston real estate market trends continue next year? Expect the market to dip around September to November as campaign ads and electioneering pull buyers out of the market pool. Q1 2020 | Houston Office Market Report Download Report. Galveston Real Estate Market Forecast 2020. The stock market, the trade war with China, and upcoming political theatre have created (and will continue to create) a lot of drama. 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. The trends below are based on a review of predictions by various experts on Houston properties as well as our own real estate market analysis. Median days on market: 47. 50% of buyers say they found the home they purchased online first. Any data showing any market impact won’t begin to show up for at least 3 months. The Houston housing market is facing a lot of uncertainties. As you can see from the Houston real estate market analysis above, things are looking good for investment properties in H-Town in the coming year. SUMMARY: Coming off a record year, the Houston real estate market started 2020 in a seller’s market. Still, home sales and prices have been on a torrid pace for the last 5 months. In some cases, developer pricing has been 30-50% above the average price per square foot of Houston’s top-ranked condo buildings. 4 Reasons, Washington DC Real Estate Market Trends 2020, Here Is the US Real Estate Market Forecast for the Beginning of 2018, Stock Market Crash 2020: What You Should Know, Charlotte Real Estate Market Forecast 2020, Airbnb Stock: Everything You Need to Know, The Effects of Immigration on the US Real Estate Market, How the 2020 Election Will Affect the US Housing Market, Miami Real Estate Market Forecast for 2020, Millennial First Time Home Buyersâ Data, Trends & Predictions 2018. For a copy of this research plus current trends in your neighborhood, email [email protected]. Contact us for a custom report on the Houston real estate outlook for this year. Again, with Houston real estate being hyper-local, the answer varies for each specific neighborhood. Many buyers have been influenced by HGTV. Home prices in Houston rose by around 7% over the past year, according to data compiled by Zillow. Remember how panicked everyone was about that epidemic? Major loss of life and socioeconomic losses were suffered during this epidemic . By contrast, we believe homes in disadvantaged locations will struggle as builders keep adding inventory to awkward lots, and as the continued development of the city make Houston more prone to flooding and traffic congestion. The market will see an influx of price drops. Statistics and data is from the most recent recent available period, as of the time of this writing. Caveat emptor. 4 Things To Know About the 2020 Housing Market in Houston We asked experts the questions in the backs of everyone's minds. Contact us to help you make the most viable decision. 8 Questions About The 2020 Houston Real Estate Market, Meet Paige Martin & Our Top Ranked Houston Agents, We are still seeing listings receive multiple markets, We have been monitoring key real estate indicators since the onset of coronavirus a couple of months ago, Kinder Institute’s Houston Community Data Connections, The 2019 Houston housing market last year had its ups and downs, Neighborhoods Zoned To Top-Ranked Schools, Unlike in the past, Houston’s local economy is a lot more diverse and a lot less dependent on oil, While the “average” Houston home has appreciated, generate long-term wealth from their investment and living their best life, successes (and failures) from the housing market, Read the Top Nine Home Selling Mistakes To Avoid, Review the Best Houston Property Market Program, See Our “Best Houston Realtor” Experience, To meet all the award-winning members of The Houston Properties Team, please go here, Sell Your Home Fast For More Money: Houston Properties Online Marketing, Sell Your Houston House Fast For The Best Price With Keller Williams, How To Sell Your House Fast For The Most Money, Texas Real Estate Commission Consumer Protection Notice, Texas Real Estate Commission Information About Brokerage Services. Price Check. Houston Housing Market Forecast for 2019. In 2019, over 92,000 people moved to Houston last year. Houston real estate is hyper-local, some areas are doing better than others. Houston real estate market overview Houston offers residents a unique blend of southern charm and a metropolitan feel. The operative word there is “tool”. Main drivers include: Job growth is the leading indicator of real estate stability. With that, regions tied heavily to oil and gas are areas of concern. The fact that PwC has ranked Houston as #3 among US markets for homebuilding prospects supports this prediction. The economy is strong, business is booming and … From analyzing 512,056 Houston home sales over two decades, we identified five home characteristics that have a systematic and statistically significant POSITIVE impact on a home’s resale value. Once again, this is good news for beginner real estate investors as single family homes make for good, affordable, easy to maintain and manage first-time rental properties. The group stated: “Houston home values have gone up 7.2% over the past year and Zillow predicts they will rise 3.4% within the next year.” (This housing market forecast was issued in March 2019 and extends into the same month of 2020.) So, where should you buy a rental property in the Houston housing market 2020? The Houston Real Estate Market Pre-COVID-19 & Oil Price Crash, Job Losses In Houston: Areas And Industries At Risk. In addition, oil & gas exports are growing at an exponential rate, with the Gulf Coast being the … This economic diversification is expected to continue in 2020, which is one of the major Houston housing market trends as it will bring more stability and reassurance to local and out of state real estate investors in residential properties. Up to date sales 2020 data on the US Housing Market and a look at where were headed. Buyers are in a good position to get amazing deals. This is caused by significant net migration as various professionals from different states get absorbed into the Houston labor market. Many Houston neighborhoods offer double-digit rate of return on investment properties rented out on short term basis. Community spread means people have been infected with the virus in an area, including some who are not sure how or where they became infected.”. 2020 Outlook: Real Estate Market Forecast - blog post by Rhonda Power, Realtor Resource Neighbor. Well, as you might’ve guessed, behavior change like the social distancing effort is causing some market delay. New properties for sale 325. By Hamza Abdul-Samad. Lastly, well-developed suburbs should continue to appreciate well. A large and growing population translates into demand for traditional rentals in the eyes of real estate investors looking for the best places to invest in real estate in 2020. A team approach handles these “parts” separately, increased foot traffic through more timely and effective showing schedule coordination; and. The 2019 Houston housing market last year had its ups and downs. Typically, new construction homes come with a higher purchase premium, and repair and maintenance require too much investment. A lack of inventory and the upheaval of the COVID-19 pandemic created an unusual year for Boston’s real estate market, but according to a forecast for 2021, the next year will bring a return to normalcy. These are the three most important factors driving the real estate market, and the reason I’m bullish on Houston this year. Areas like Katy, Missouri City, Pearland, Sugar Land, and Spring posted very strong land value appreciation rates last year. I expect home sales in quality locations to perform well. To see this page as it is meant to appear please use a Javascript enabled browser. We should see the same trend in: Looking at the Houston housing price trends from the 2016 elections, we anticipate seasonal slowdown this year. Russia and Saudi Arabia flooded the world with excess supply. Some were done by reputable builders, but many didn’t have remediation certificates, quality construction, or strong warranties. We will help you see what a good property investment in Houston really is. Correlating the growth of Houston population and home prices over the past two decades, I think 2020 will be a strong year for sellers, primarily because of the buying power of the average Houstonian. These are just some of the many questions we get about the Houston real estate market each day. 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. Coming off a record year, the Houston real estate market started 2020 in a seller’s market. That could fuel a recession. Our main concern is the impact of the oil price crash on Houston jobs (since about 1/3 of Houston’s jobs are tied to the energy industry). Waco Real Estate Market Forecast 2020. Back on market listings 100. Healthcare & Social Assistance, Government, Accommodation & Food Services industries are expected to make up for the bulk of the jobs this year vis-a-vis losses from the Energy, Retail, and Information sectors. As with any downturn, there’s a flight to quality. In times of fear, uncertainty, and doubt, we see a consistent flight to quality. According to BC Real Estate Association’s (BCREA) newly released third quarter housing forecast update, home sales in the province are expected to see an uptick of 6.5% to 82,380 units in 2020. But that doesn’t mean Boston’s red-hot real estate industry will slow down anytime soon. Pending listings 238. Avison Young's research team provides comprehensive and original intelligence on the commercial real estate market for our clients. Furthermore, the return on investment metrics offered by Houston exceed those in other best places to invest in real estate in 2020. 4 Things To Know About the 2020 Housing Market in Houston We asked experts the questions in the backs of everyone's minds. Most often, we talk our clients into NOT BUYING. Key takeaways include: Estimated # of workers who lost jobs range between 7.3% to 9.6%, Accommodation and Food Services lost over 33,000 jobs; Retail dips by over 23,000, Areas (Sharpstown, Gulton, Greenspoint, etc) with a high number of people working in retail suffered significant job losses, Over 9,000 Construction workers lost jobs, many of them located in east Harris County, Job losses in retail are quite even all across Harris County, except the west side of the Interstate 610 loop, Low-income renters are among the most vulnerable populations. The real estate data from Zillow shows that the current median home value in Waco is $126,300. Do You Want To Buy A Home Now? So you’re hoping to buy or sell a home and want to know what the housing market forecast is like—especially after the coronavirus outbreak. December 2, 2020 Housing Forecast, Market Outlook housing forecast housing predictions real estate outlook Danielle Hale, George Ratiu, Javier Vivas, Sabrina Speianu, Nicolas Bedo We can learn from history and apply it to today. Of all economic sectors, tourism is one of the most crucial ones for real estate perspectives, especially in terms of short term rentals. Today 93% of buyers say websites are their primary source of information during their home search. Benefitted from having multiple types of bidding (residents, builders, investors). Information is provided for informational purposes only. The all-virtual event will provide a year-end review and outlook on the post-election real estate market and the economy. While there may be blips in certain neighborhoods, homes with land, zoned to top-ranked schools, located near major job centers have nearly doubled the overall market on a 10- and 20-year basis. 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