The current Houston market update is a positive one. Despite the low oil prices, real estate in Houston and the surrounding areas is still moving. Real Estate prices are stable, and we are anticipating another great year for 2015.
Houston added 88,000 jobs during the year that ended this past May. Some 21,000 of those positions were in health care, compared with just 9,000 in the natural resources sector.
Houston’s economy is greatly diversified. Houston was the last city to sink into recession, and the first to climb out of it.
Real Estate is a still a very strong investment. Days on market may increase, but as long as the sellers are patient, they will still get top dollar for their properties in good condition in desirable neighborhoods. Homes in areas with good schools will always be desirable even for families with no school children. In the suburbs, master planned communities located close to major freeways (that will get them to Houston quickly) are still leading in sales. The road expansions have made Fort Bend County a perfect location for commuters. The Woodlands have tripled in size, sales, and growth in the past 2 years, with Exxon-Mobile having built their mega campus in North Houston.
If you are looking for affordable housing, good job market and cheap gas, come on down to Houston, Texas and call The O’Neal Team to guide you through the city for your next home or investment property.