A recent article on The Pasadena Citizen details how Texas’ real estate market ended on a high note the previous year, and what that means for 2014. The national real estate market is on the slow road to recovery, yet there are problems here and there that could confuse prospective buyers. The article makes the following observation:
This high demand continued to contribute to a shrinking inventory of homes in Texas. During the fourth quarter of 2013, the statewide inventory of homes decreased by one full month to 3.6 months. That figure is well below the 6.5 months that the Real Estate Center at Texas A&M University cites as a market balanced between supply and demand.
Gaines continued, “Demand for Texas homes in 2014 should continue, but it’s possible that a shortage of inventory could inhibit sales volumes. The steady price increases we’ve seen recently should help alleviate that, enticing more sellers into the market, but buyers should continue to expect to compete for desirable properties.”
While Texas’ real estate does appear promising, buyers nonetheless have to deal with a looming property shortage. With major cities already running out of space, buyers might want to start looking for properties in other areas of the state. Fortunately, there are still a good number of attractive homes for sale in College Station, TX reputable real estate professionals can recommend.
In a market of shortage, the law of supply and demand dictates that property prices will rise. Buyers need to be very particular about cost, and should search for as many listings as possible in order to choose the right property at the right price. To get a better idea of the available houses for sale in College Station, buyers can enlist the expertise of a local real estate firm such as the Traditions Realty Team.
(Source: Texas real estate market finishes 2013 strong, The Pasadena Citizen, February 3, 2014)