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Could Houston’s Market Be Finally Slowing Down?

by Peter Thomas Ricci

Relatively speaking, our market is not nearly as fast as one might believe.

time-on-market-tortoise-hare-trulia-study-homes-for-sale-fast-slow-market

Houston may have garnered a well-deserved reputation for a lively, fast-moving real estate market, but there are signs that the market could be slowing down.

According to a new study by Trulia, as of April 2015, 58 percent of Houston listings are still for sale after two months on the market. That’s up considerably from 53 percent a year ago, but still below the 60 percent national average.

Here is a graph that compares Houston’s time on market with that of other metro areas:

Time-On-The-Market

Of course, Houston’s housing market just came off a strong March (albeit one with markedly lower home sales increases than in past months), and appraisers continue to value Houston properties strongly at closing time.

But again, those sales numbers are below where the market was performing in 2013 and 2014, and inventory remains at record lows. Could Trulia’s data be a sign that things will slow down further in 2015? We’ll be monitoring the market closely in the coming months, to find out.

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Comments

  • cindy boutwell says:

    Trying to figure out why you are using Trulia stats for home sales for Houston’s Market? Since 100% of agents don’t use Trulia, if you want accurate information, pull your data from http://www.har.com for Houston.

  • Shawn Jones says:

    Trulia pulls active listings from MLS, but it takes months before the status changes on Trulia. Hopefully Trulia isn’t using their inaccurate information to make statements about the Houston housing market.

  • Lane Mabray says:

    I agree with Cindy and Shawn. Trulia is awful..and always behind. Use our HAR stats as they are up to date.

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