The first quarter of 2019 flew by, and it seemed to fly
especially fast, as our office has seen more activity than we had in the last 2
years!  Our office just closed 97
transactions in 3 months. If the trend continues for the rest of this year, all
indicators are that our real estate market is bouncing back from a 3 year
downturn. It’s about time Houston!

                Following
a mini crash at the end of 2018, oil prices are rebounding again and staying in
a profitable range of $60 per barrel, so we are also seeing more relocation
activity than we have seen in the last 3 years. 
However, according to members of the Houston Relocation Network Group
that we are part of, relocation clients are increasingly moving towards a home
purchase rather than a lease. This could cause the higher end rental market to
stay stagnant or continue to drop if the trend continues.

                I am
happy to report that we continue to Lease homes that are in new and updated
condition, but I would approach this market with caution and not only insure
that rental properties are in good condition, but also make sure they are
priced well.

                While
activity is picking up, we still have a lot of inventory due to a slow 2018, so
we are still in Buyer’s market with over 6 months supply of inventory. Prices
may continue to drop as homes that have been on the market for a long time
struggle to find the right buyer, and the demand for remodeled homes that are
ready to move in will continue to be higher than the fixer upper.

                The
silver lining behind Harvey is that flooded homes are being remodeled to look
like new, but this will be tough competition for the homes that did not remodel
because not only are the homes like new, they are also priced lower.

                It is a
great time to purchase a home with lots of inventory and lower interest rates.
Please read the article below about mortage rates dropping to the lowest rate
in a year.