COMMENT OF THE DAY: REALTY CHECKS ON THE HOUSTON HOUSING MARKET “‘The fundamentals of the economy are sound’? OK — so it’s obvious that a housing market is ‘strong’ in the eyes of a Realtor if total sales volume is up while average prices hold steady or gradually increase. It means Realtors have more business and make more commissions. From a homeowner’s point of view, there are some worrying trends: average days on market is increasing, inventory is increasing, condo and townhome prices are falling, rents are falling. Higher home sales numbers just means people are moving. It doesn’t mean the economy is doing great.” [Realtor®, commenting on Sugar Land Arena’s Musical Debut; I-10’s Car Vending Machine Open for Business] Illustration: Lulu
Yeah but overall prices are up….
I think things got a bit overheated in the townhome market in 2014/2015. It’s just a correction for that.