Houston's housing market is experiencing a cooling trend, with 7% of listings at risk of selling for less than what homeowners paid. This marks an increase from last year and ranks fifth among the top 50 metros. Sellers who purchased homes post-pandemic face the highest risk at 20%, while those buying during the pandemic have a 10% risk. The market remains more balanced compared to cities like Austin, but overall, sellers still outnumber buyers, resulting in downward pressure on prices.
In Houston, 7% of all listings are at risk of selling for less than homeowners bought them for. This is nearly double the share last year and the fifth highest among the top 50 metros.
20% of sellers who bought post-pandemic are at risk of losing money on the sale - the fourth-highest share in the nation. The nationwide share is 16%.
Although Houston is a more balanced market than cities like Austin - which is seeing a sharp decline in demand - sellers still outnumber buyers, pushing prices down.
The Houston housing market was red hot during the pandemic. Homebuyers rushed to take advantage of historically low mortgage rates, snapping up available homes and draining the city's supply.
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