HOUSTON, Texas (KTRK) With home sales hitting record levels, finding your first home in Houston s hot market is challenging. But a new analysis from Zillow identifies a key area of real estate that could afford big opportunities to those trying to break into the market.
In 2020, single-family home sales soared (both nationally and locally), but condo sales were left behind, the real estate authority says.
While single-family home inventory dropped, condo inventory recovered and rose, and the national median condo sale price rose just 7-8 percent year-over-year, compared to single-family home prices growing by 14 percent. Another bonus: Condos generally are priced lower than single-family homes (in November, the median-priced U.S. condo sold for about $41,000 less than a home).
If you re in the market to buy a house, watch this video on how realtors are adapting to changing prices. All this hit and it kind of put everything on hold. It did kind of put everything on hold and it set us all back, he said.
Yes, early in the pandemic, the coronavirus closed all listings for in-person showings. Weeks later, when walk-throughs were permitted, Laake said it made showings tedious. They literally had signs . walking up the driveway [that said] Put booties on your feet. Please wear gloves, and they got booties and gloves. Be sure to wear your mask, explained Laake.