After the devastating effects of hurricane Harvey you might have thought otherwise, but the Houston property market has stayed well afloat. According to an article in the New York Times, “Houston’s unsinkable housing market is undaunted by the storm”.
On the back of strong job creation, the Houston property market is setting record sales and price rises. Houston rentals are also booming.
In April, the Houston property market registered the highest median price ever and demand for single family home rental properties soared. The latest figures highlight how resilient the market is despite a bigger background of falling oil prices. As this latest BRIC Group news article explains, real estate analysts are forecasting a sturdy future for Houston property.
The Houston property market enjoyed record years in 2014 and 2015, both for sales and prices. As far as 2016 goes, experts predict more of the same but at a lower level, a situation leading to a healthy market. In this article, BRIC Group summarises what to expect if you’re buying property in Houston this year.
The latest survey of US property trends for the coming year finds that the housing market is well on the way to recovery. It also puts the market in 75 locations under the microscope and reveals that Houston is the number one property market to watch in 2015.
The two states of Texas and Florida dominate the Forbes Where to invest in 2015 list with Houston and Orlando property featuring in the top five. The two cities stand out for their high population growth, strong job creation and undervalued property prices. As a result, Houston and Orlando are “safe bets to invest”, for both first-time buyers and buy-to-let investors.
All the economic figures point to a buoyant year for the US economy in 2015. This year’s strong employment and financial growth will also boost the US property market, forecast to grow significantly. Property experts have highlighted ten areas for particularly strong activity in 2015 and Houston features as one of them.
After a quieter month in May, the Houston property market returned to frenzied activity in June recording the highest prices ever and quickest turnover levels of properties. According the experts, this illustrates that demand in the market continues to far run ahead of supply.
Real estate experts recently analysed the property market in Houston and reached a number of key conclusions. Their findings confirm the investment value of apartment accommodation in the city and the tremendous potential behind Houston’s rental market.
House prices for single family homes in Houston recently hit an all-time high as the property market in the city continues to show an imbalance of demand and supply. Real estate experts expect this situation to continue for the immediate future meaning that for many families, the only solution is to rent a property.