Home > Market Updates, multifamily, Uncategorized > How is the Houston real estate market – March 2013

How is the Houston real estate market – March 2013

Multifamily apartment properties dropped approx 25% from 2008 to mid 2012
Since mid 2012 the supply of properties for sale has dried up because there are fewer sellers.
Many buyers know that prices went down and lender interest rates are low.
Next year we may look back to see that prices increased 5% from mid 2012 to mid 2013 or later.

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However it is interesting to note several interesting developments
Prices of some central commercial properties and also residential are reaching historic highs.
Distant properties further from central Houston, may be recovering, but have not recovered fully to 2008 prices.
Contract prices are close to the seller asking price
Each property must be evaluated on its own merits.
It is important to note that loan interest rate expense is a major cost of owning real estate. Trying to buy a lower price may cost you later in higher loan payments as interest rates go up.
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