Despite low inventory, Houston home sales continued to rise in March. Many home buyers are finding the market very frustrating due to bidding wars, homes going under contract in a very short time and rising interest rates.
Single-famiily home sales increased 4.1 percent compared to March 2021. On a year-to-date basis, home sales are 10.8 percent ahead of last year’s pace.
There was an increase of sales in all price ranges during the month of March. Months of inventory remained at 1.3. Days on the market decreased to 38.
On another note, homeowners should be receiving their 2022 tax appraisals. Please feel free to call us anytime to discuss your appraisal, buying, selling or just to say hello. We love to hear from you!