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Thread: Houston Real Estate Market (price, claim, value, points)

  1. #1

    Houston Real Estate Market (price, claim, value, points)

    Where do you all see the Luxury real estate market going in Houston? What about Houston real estate in general?

  2. #2
    Hard to answer - this market is one of the fastest growing markets in the country. I am going to hazard a guess and say it's claim for growth will be over sooner than later. Time, and time again, by the time you hear an area named, it's reign is over. I heard one county in Houston was #1 for growth earlier this year (1st quarter).

    The surveys we typically get are by CoreLogic Case-Shiller, which I can only access while logged in at work, but some commercial sources (NAR, Zillow) mirror their studies. One study said NYC and Houston are two areas to exceed the national growth average of 3%. (Both around 3.5%).

  3. #3
    I think Houston is going to stay pretty hot for a while. Still lots of people moving there. I'm in Austin. A lot of people move here because they've heard it's the best place ever and jobs just fall from the sky. When they get here and realize that's not really true, they tend to look elsewhere. Houston is where a lot of them land. It is still generally more affordable, has more big-city amenities, and great job opportunities.

  4. #4
    The Houston luxury market is currently somewhat soft...but that heavily depends on what you consider to be a luxury market. Luxury is a relative term. Houston has multiple "luxury" markets including River Oaks, West University, Memorial, Tanglewood, Uptown, Heights, Montrose, etc.

    Each areas is very different with different price points. Generally speaking (because all real estate is VERY local) homes valued at $2,000,000 and up are currently in a buyers market, and are lingering on the market for extended times. They are still selling but at a much slower pace. Buyers expect perfection at that price point, and so older homes in upscale areas are lingering.

    The oil/gas market has hit the highest value homes the hardest...these are your executives who make good salary, but generally make the bulk of their income from end of year performance bonus & stock options.

    Houston real estate in general though is quite robust...the economy is quite diverse and growing, albeit at a much slower pace.

    goto for detailed market reports. You can get an inflated realtor perspective from their media department:

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