Thursday, August 19, 2021

What's ahead for Texas real estate in 2021-22?

The primary question agents get asked, naturally, "How's the market?"

The experts at the Texas A&M Real Estate Center say that we Texans can expect interest rates to rise and things to remain about the same. Some improvement in inventory of homes for sale should improve as listings have reached a low and are rising. I hope this will ease some of the price pressures. 

Texas homebuilders can't get all the lumber, labor, appliances, and other construction materials, which is driving up prices and costs yet, home construction should maintain strong positive growth in 2021-2022. 

Maybe the foreclosure market will offer some relief to pressure and price.  Federal forbearance ends in the fall of 2021.  The housing market could absorb the foreclosed homes and also those homes could be sold with a gain even before they enter foreclosure.  We'll see.

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