New State of the Real Estate Market from Movoto highlights significant gains in inventory throughout the country, but not every metro was so lucky.
It’s been a good year for Houston, but the local market may be slowing down, according to the latest State of the Real Estate Market report from Movoto.
In 2013, Houston, unlike much of the nation, was managing to stave off many of the effects of the looming housing crisis, pushing through as many foreclosures as quickly as they could. Leap forward 12 months and the real estate landscape is still changing drastically.
According to Movoto’s report, Houston saw losses to local inventory, further exacerbating what many have already called a housing shortage. Year-over-year, inventory fell by 8.5 percent, bringing overall inventory to 5,345 – nearly 500 units less than last year.
The Nation Remains Hopeful
Throughout the nation’s major metro areas, the story is a bit more promising, with many local inventories filling out. Year-over-year, national inventory rose an impressive 15.4 percent, which should help to reinforce buyer confidence.
Check out our graph below to see how our market compares with others around the nation: