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The real estate market in Houston has suffered in recent times. This July saw a drop in home sales by 8.8% – the biggest decline since winter of 2015. It’s a drop that followed a fair few months of a relatively stable real estate market in Houston. Things were going good, and there were plenty of Houston home buyers looking to make a purchase. Some experts put this drop down to the oil slump that’s happening in the area. The city is heavily dependent on its oil and gas industry, and that suffered a downturn a couple of years ago which is thought to be finally catching up with the city.
A lack of money from this industry means the real estate market is negatively affected and Houston becomes a less desirable place for potential home buyers. This is reflected in the fact that the real estate market has dropped from no. 30 to no.40 on the list of real estate prospects in the US and Canada.
What does all of this mean for someone looking to sell their home or invest in a property in Houston? For sellers, it’s increasingly difficult to find other people willing to buy their home. There’s simply no demand for real estate in this city at the moment. However, that doesn’t mean you can’t find any home buyers in Houston. Our company is one of the few companies to specialize in buying homes in this city. We offer people quick alternatives to conventional home selling and can take your property off your hands very quickly. We also provide assistance and can talk you through all of your selling options. If you want to sell your home in a conventional manner then now is probably not the right time to do it. It’s likely you’ll get very little interest, and the interest you do get will be from people looking to snag a deal and offer cut prices to tempt you into selling your home.
On the other hand, for home buyers in Houston, there’s a great opportunity presenting itself to you. When the market is down like this, you can get a few bargains on some great properties. The thing with real estate is that it tends to always find a way to improve. It’s rare that you’ll find a city that’s severely declined for more than a year or two. Eventually, real estate in this area will pick up again, and it will probably coincide with the oil and gas industry getting back on track. So, it makes sense to buy a home when the market is in decline, as you will make more money when it shoots back up. The trick for home buyers in Houston is finding properties that have been on the market for a long time. The longer a property is up for sale, the more desperate the seller becomes, and the answer to the question How to sell my house in Houston, Texas becomes self-evident. They’ll be more willing to accept a cheaper offer just to get their property off their hands.
It’s no secret that real estate in Houston is in a difficult period right now. The bottom line is if you really need to sell your house, then look for specialist home buyers in Houston like our company. Don’t stick it on the market as you’ll likely get ripped off. If you’re an investor, now’s the time to shine!