All signs point toward 2024 being a big year for the Houston market.
The Houston real estate market is off to an impressive start in 2024, showing positive indicators that surpass the figures from the same period in 2023. Examining the data reveals a notable increase in total property sales, a rise in active listings, and an uptick in pending sales compared to the previous year.
In January 2023, the market experienced a substantial dip in property closings, registering a decrease of over 30% compared to January 2022. Additionally, there was a significant surge in active listings, with more than a 60% increase, while the pending sales index dropped by over 14%. This stark contrast between January 2023 and January 2022 indicates a weaker start in the previous year.
The positive momentum observed in January 2024 is consistent with the trend witnessed towards the end of 2023. Looking at the data, the pending sales index saw a consistent increase in November and December, mirroring the upward trajectory seen in January. These trends suggest a more active market, with a growing number of buyers entering the scene and sellers becoming more inclined to list their homes.
“The Houston real estate market is off to an impressive start.”
This upswing in market activity provides ample opportunities for both buyers and sellers who may have been holding off in recent years, potentially influenced by the high-interest rate environment. The increased inventory and active buyer pool create a favorable environment for those looking to make a move in the real estate market.
It’s essential to remember that real estate trends are highly localized, and if you have any questions or seek clarification on the numbers mentioned, or if you’re curious about the overall market conditions, feel free to call or send an email.
