Bob Gilbert's Katy Blog: Houston Housing Market Might Avoid Most of Energy Market Decline

Houston Housing Market Might Avoid Most of Energy Market Decline

Houston Housing Market Might Avoid Most of Energy Market Decline

 

Last month prominent real estate economist Mark Dotzour told Houston Home Builders the energy markets slowdown will continue to be a negative force on the local Houston economy for the next two years but the housing market is most likely to hold as long as inventory levels remain as they are and have been in recent months. He stated “ It's amazing how resilient the housing market is in Houston”.  Mark’s speech was given at the midyear 2016 economic forecast event held by the Greater Houston Builders Association.

 

Despite low energy prices and industry layoffs home values and sales have not collapsed. This is due to the fact the real estate market in Houston is not overbuilt when this energy major slowdown started to occur. There has not been a massive overbuilding of homes in this whole area and therefore Houston area housing market is  ready to come out of this energy downturn in really strong shape.

 

The Housing market will not come out of this situation with no issues as Dotzour estimates new home sales will fall about 10 % in the next year.

 

Sales of high-priced or luxury homes are currently softening the most. Builders are hoping to capitalize more and more on moderately priced homes where demand is and will continue to be strong.

 

Consumers this analysis is telling you the housing market is still strong but is experiencing a slowdown. Prices will not fall and in fact for new homes prices will still move upwards. Builders price incentives might increase by small amounts depending on the area and neighborhood. If you are on the fence about buying a home thinking time is on your side you are not interpreting the situation correctly. You will be sorry if you continue to procrastinate. Take action now before you get priced out of the market. If you are looking for a luxury resale home this is probably a great time to buy as sellers are more willing to negotiate to make a deal.  One year from now it is hard to say but prices of luxury resale homes might actually start to firm and increase.

 

If you have any questions or want to start the home hunting process in Katy, Cypress, Fulshear, Sugar Land  areas contact me and let us get started on your housing journey.

 

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© 2016 Bob Gilbert Real Estate

 

Accredited Luxury Home Specialist

 

Note: Katy TX is about 25 -30 miles due West of downtown Houston TX.

 

If you have any questions about Katy Homes for Sale or Katy Homes for Rent in the Katy Texas and/or Sugar Land TX, and/or Cypress TX and/or other surrounding areas, contact me via my cell: 281-904-6772 or via Email:

 

 

 bobgilbert2003@msn.com or bob@bobgilbert.com

or visit me on my web site at

 

http://www.katyhomefinder.com

or visit me on Google plus

and FaceBook at https://www.facebook.com/bobgilberttx

 

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Comment balloon 10 commentsRobert Bob Gilbert • June 20 2016 11:26AM

Comments

Bob,

The Wall Street Journal had a similar commentary of high end homes sales slowing down.  This is an opp to get a better price in the writer's opinion.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) about 2 years ago

This is very good information to share with area residents.

Have a most productive summer.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 2 years ago

Bob,

 Yes thank goodness the overall market remains strong! I hope you are having a great day!

Posted by Yolanda Cordova-Gilbert, Sitterle Homes (Sitterle Homes) about 2 years ago

Hi Bob an interesting outlook. I feel a positive vibe as far as the market is concerned.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) about 2 years ago

Hi Robert (Bob) Gilbert , You are right about having to act now if your wanting to buy a home.

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) about 2 years ago

The market will begin to soften a little but that usually happens as we get closer to fall. It has been a gangbuster year so far.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) about 2 years ago

Larry

Hopefully the US energy market stays on a steady pace.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 2 years ago

Thanks Bob.  This is excellent news for the Houston housing market that is good to know.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 2 years ago

Thank you for your comments. This economic review was on the upbeat side. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) about 2 years ago

Bob, this answers my question I had on a previous market report!  Hope that inventory holds steady so there is no meltdown!

Posted by Sharon & Bruce Walter, West Lafayette homes for sale (Keller Williams Realty Lafayette, IN) about 2 years ago

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