Skip to main content

Property Management Blog

Houston Real Estate Market Update for February 2014

Houston Real Estate Market Update for February 2014


February MLS sales data shows the 33st consecutive month of increasing sales. Supply of homes for sale is down 27.8% from February of 2013. Months inventory metro wide is down from 3.6 to 2.6 months, an all time record low for the Houston market. Six months is considered a balanced market, so the tight inventory is driving up prices, which are up 11.7% from one year ago. forecasts 6% appreciation for 2014. Sales overall were up 8.9% from a year ago, and up especially in the $250K and higher market price ranges. The median price increased from $162,500 to $181,500, or 11.7%. Foreclosures comprised 8.6% of sales, down from 15.8% a year ago and 37% two years ago. The average rental price for leasing through the MLS increased 5.2%, indicating continuing strong demand for rental property.

Investor loan rates are at 4.875% for a 30 year fixed mortgage, helping cash flow for current purchasers to be better than ever.