Houston – Best Homebuying Opportunity is Now.

Who would have known?  Immediately following the buying flurry before the April 30th deadline, interest rates dropped dramatically in May, giving home buyers that were too late for the tax credit thousands of saved dollars over the life of a loan and dwarfing the tax credit incentive.  The Houston real estate market now has the best home buying opportunity not only due to lower interest rates but also, as you can see in the table below, more homes available from which to choose.  The 17% higher inventory is also a motivator for sellers’ to become more competitive in their asking price. 

Many economists agree that current positive economic indicators may cause the Fed to raise interest rates in the not too distant future.  Clearly, there is a window of opportunity in the market that savvy home buyers will capitalize on before it is too late.