A slowdown in the Houston, Texas, real estate market in 2022 has resulted in speculations that a potential real estate crash is ensuing. Whether you’re a home seller or a buyer in Houston, Texas, this speculation may have left you on edge.
Before you drop everything and transfer all your real estate assets to another city, taking a breath is crucial. Better gain a comprehensive understanding of the real estate market by examining these:
1. Resiliency of Houston, Texas Real Estate Market
A steady growth trajectory has been seen in the Houston, Texas, real estate market throughout history, showing its resilience. In fact, the city topped the U.S. as the most active real estate market within the last decade. This is due to several factors, such as:
- A growing population
- Diverse economy
- City’s robust job market
All of these factors make Houston less susceptible to sudden crashes. These factors also ensure the stability of the city’s real estate market as they foster a suitable environment for investors and homeowners, consistently driving more demand for housing.
2. Housing Appreciation
You should also factor in housing appreciation when investing in real estate. A property’s appreciation is a practical indicator of how it changes in value, which is most likely influenced by broader economic factors and local conditions. As studies show, Houston has both of these factors. Over the last decade, Houston real estate has had a 98.71% appreciation, with an average rate of 7.11% per year. Thus, it’s included in the nation’s top 30% real estate appreciation.
3. Affordability and Quality of Life
Houston’s housing rate is more affordable than other major cities in the United States. Affordable in the sense that you don’t have to compromise your quality of life to find a good home. In this city, you can find many economic opportunities while having a relatively low cost of living. And this alone is incomparable to the advantages of having a property in Houston. If you’re an investor, take advantage of this benefit. Since the quality of life in Houston is making an influx of newcomers, you can expect more demand for housing. Sell or rent out a place to grow your real estate investment portfolio.
The Key Takeaway
Whether you’re a home buyer or seller, you should stay informed about the actual conditions of the real estate market. The rumors about the real estate crash in Houston, Texas, appear unfounded, as shown by the three factors above.
The city’s real estate has a history of resilience, excellent housing appreciation, and a balance of affordability and quality of life. These are just some of the few evidence that Houston is standing strong against the storm of uncertainties regarding the real estate market.
Don’t succumb to baseless speculations and unfounded fears by staying informed. Follow Rinnovare Realty, LLC to learn more about the real estate market.
Call us at (832) 445-4957 or visit us at www.rinnovarerealty.com .