Swamplot Archives by Tag: Forecasts

Monday, December 1, 2008

Las Vegas to Houston: What Are the Odds?

December 1, 2008 – 2:45 pm
   

A Swamplot reader requests a long hard look at the Houston housing market crystal ball: “Do any ‘experts’ lurking among Swamplot’s readership have any thoughts on long-term residential price trends in Houston? Me and the missus were trying to sell our home in Vegas (good house, great neighborhood, bad timing). Now we will be holding on to it until the Vegas market starts coming back — whenever that is. I’m trying to get an idea on what prices could look like when we finally have the funds to buy locally (6 months - 1 year, depending). Any info or sites that might help us answer those questions would be greatly appreciated.” [Swamplot inbox]

2:45 pm | 6 Comments | Read more about Forecasts, Homebuying, Houston Data, Price Trends, Quicklink
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Thursday, September 18, 2008

Hurricane Ike: Great for Houston Real Estate!

September 18, 2008 – 7:56 pm
   

“. . . the storm, which might have left about 50,000 homes uninhabitable in the Houston-Galveston-Brazoria metro area, could actually give a boost to the housing market, University of Houston Professor Barton Smith told me today. The local job market, which has remained robust thanks to the booming energy sector, has helped to fuel the need for housing. The storm has created a shortage of homes, some of which will likely never be rebuilt, Smith said. And new home starts could drop as builders turn their attention to repairing damaged homes, he added. ‘This is probably going to create a strengthening of the housing market,’ Smith said.” [Hot Property]

7:56 pm | 7 Comments | Read more about Disaster Aftermath, Forecasts, Quicklink
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Wednesday, May 9, 2007

Smith to Homebuilders: Whoa!

May 9, 2007 – 7:30 am

Houston’s housing market will slow, UH economist Barton Smith told homebuilders, real-estate agents, and a Chronicle reporter at his annual spring symposium:

Smith cautioned builders that this area is not immune to the national housing market correction just because housing remains affordable and fixed-rate mortgages are still low.

A national crackdown on subprime loans because of increasing foreclosures will significantly shrink the number of households that qualify for homeownership.

Combined with interest rates that are slightly higher today than two years ago, Smith estimates that the reduction in subprime lending will eliminate nearly 100,000 Houston households from the owner-occupied home market.

On the other hand, real estate experts have seen an uptick in sales of higher-priced homes.

“You’re just seeing the high end of the market going wild,” said Mark Woodroof of Prudential Gary Greene, Realtors.

More than ever before, builders are creating homes valued in excess of $500,000 in places other than the silk-stocking neighborhoods where they’re traditionally found.

“Today, they’re in The Woodlands, Fort Bend, and it’s not because prices are skyrocketing, but because we’re building bigger, more luxurious homes,” Smith said.

Of course, it’s difficult to compare last year’s prices to this year’s—because the house that sold last year is in the landfill, and the new one that replaced it is three times the size. In Houston, that’s your growth in the residential market. So maybe Dr. Smith’s just calling for a little less Foyer.

7:30 am | Read more about Forecasts, New Construction: Residential, Price Trends
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