Popular design trends include the use of mixed metals, transitional styling, and more contemporary lines. While there may be blips in certain neighborhoods, homes with land, zoned to top-ranked schools, located near major job centers have nearly doubled the overall market on a 10- and 20-year basis. Houston Housing Market Forecast: Smaller Gains in 2019 . EDITORS NOTE: This section was written BEFORE 2020. We have been monitoring key real estate indicators since the onset of coronavirus a couple of months ago: Based on initial trends, the pandemic and ensuing lockdown had a considerable impact on the real estate market. Up to date sales 2020 data on the US Housing Market and a look at where were headed. Related: Will the 2020 US Housing Market Be a Seller’s Market or a Buyer’s Market? Because real estate was deemed “an essential service” in Houston during the quarantine, the housing market held up much better than other cities across the nation. WorldAtlas.com wrote: “The world’s most widespread Ebola virus disease outbreak happened in West Africa in 2013 and lasted until 2016. The current forecast also calls for sales volume to remain elevated in the coming year, finishing 2021 at 6.9 million sales, the most since 2005. SURVEY: COVID-19 and the Houston real estate market. We have updated this article (please see above) noting the (current and potential) impact of the recent events.*. The housing market in the U.S. could enter a recession, according to online real estate company Zillow which predicts that will happen in 2020. This is one of the most important Houston housing market predictions for 2020 as it is expected to attract many out of state investors looking for Airbnb investment property options. I believe the areas that flooded multiple times will continue to struggle. The group stated: “Houston home values have gone up 7.2% over the past year and Zillow predicts they will rise 3.4% within the next year.” (This housing market forecast was issued in March 2019 and extends into the same month of 2020.) It’s been a world of workarounds and adjustments for the last several weeks as real estate folks, along with the rest of the nation, move forward with their lives. Before we talk about the specific trends to be expected in Houston in 2020, let’s have a look at the main factors which have been driving growth and development in this market. What Kind of Airbnb Occupancy Rate Can You Expect? This is Jennifer Yoingco. These areas suffered in 2018. Unlike many other major US cities, the City of Houston has not issued any specific short term rentals regulations or policies. Houses (2 days ago) The Houston real estate market is now running 7.7 percent ahead of 2019’s record pace. However, the local economy has started diversifying in the past decade with the advancement of health care, biomedical research, and aerospace. However, properties are STILL going under contract and new listings are still going active. In times of fear, uncertainty, and doubt, we see a consistent flight to quality. Candidly, we do not have a lot of good news for sellers. It allows clients the best of both worlds: the convenience of a “one easy button” approach and the expert advice and insight of a real estate professional. As we consistently tell our clients, one of the few reliable Houston market trends is that there will always be a flight to quality. Key takeaways include: Estimated # of workers who lost jobs range between 7.3% to 9.6%, Accommodation and Food Services lost over 33,000 jobs; Retail dips by over 23,000, Areas (Sharpstown, Gulton, Greenspoint, etc) with a high number of people working in retail suffered significant job losses, Over 9,000 Construction workers lost jobs, many of them located in east Harris County, Job losses in retail are quite even all across Harris County, except the west side of the Interstate 610 loop, Low-income renters are among the most vulnerable populations. If you are provided with a broker price opinion, comparative market analysis, or estimated worth or sale price then this represents an estimated sale price for this property. Our promise is to always give you the most candid advice on any property, to help you make the best decision for your family. The latest real estate data from Zillow shows that the current median home value in Galveston is $221,587. All predictions are our educated guesses. Vehicles. We’re already seeing this with “Keller Offers” – the new Instant Buyer Platform from Keller Williams that has just rolled out in Houston. by Kerrie Kennedy April 20, 2020. Moreover, Airbnb Houston is expected to remain unregulated and fully legal in the coming year. Option pending listings 224. Given the current supply-and-demand situation in the Houston real estate market, it would not be surprising to see the median home value rise between 4% and 6% between now and January 2020. Fill out my form here: Home Valuation. Comment and join the discussion. By contrast, we believe homes in disadvantaged locations will struggle as builders keep adding inventory to awkward lots, and as the continued development of the city make Houston more prone to flooding and traffic congestion. The best opportunities for both buyers and sellers will be properties with these characteristics: While the “average” Houston home has appreciated, there have been areas, neighborhoods & individual properties that have beaten the market by 500% or more. “We also have a housing shortage that will likely still be there when the pandemic ends.” According to analysts, in a $20 oil environment over 500 US oil exploration and production companies will file for bankruptcy in two years. To see this page as it is meant to appear please use a Javascript enabled browser. French, Mediterranean, Spanish homes) and many sellers are better off making cosmetic changes before putting them on the market. Region. Article - Real Estate Center Should we expect sales to go up or down this year?”. As we guide our clients in both helping them generate long-term wealth from their investment and living their best life, we want to quantify the successes (and failures) from the housing market. The stock market, the trade war with China, and upcoming political theatre have created (and will continue to create) a lot of drama. Around $5B worth of health-care related projects are currently underway in the area, and health care jobs are projected to double within the next decade. December 2, 2020 Housing Forecast, Market Outlook housing forecast housing predictions real estate outlook Danielle Hale, George Ratiu, Javier Vivas, Sabrina Speianu, Nicolas Bedo At $10, that number would more than double. However, the Houston housing market held steady throughout 2016 and had a record-breaking year in home sales. Given the current supply-and-demand situation in the Houston real estate market, it would not be surprising to see the median home value rise between 4% and 6% between now and January 2020. How about Houston? . Our clients don’t have to deal with the usual stress and problems that usually come with real estate transactions. ... Pat started his career as Director of Marketing for a real estate data base company where he spent three years interviewing top brokerage houses throughout the United States and assisted in their automation needs as a consultant and instructor. Both Yun and Oppler will be speaking during RISMedia’s “Real Estate’s Rocking in the New Year,” co-presented by NAR and being held virtually on Jan. 7 from 11 a.m. to 5 p.m. EST. Amid social distancing orders, the Houston real estate market lost most of its 2020 momentum in April, seeing a 21% drop in year-over-year sales and … Statistics and data is from the most recent recent available period, as of the time of this writing. Dec 23, 2020. In this year’s Kansas Housing Market Forecast Series, we offer you a glimpse of the scenes and images that laid the foundation for where we are today. The highest growth rate should be around the four major employment hubs: Downtown, Galleria, Texas Medical Center, and the Energy Corridor. Well, it depends on your rental strategy. Up to date sales 2020 data on the US Housing Market and a look at where were headed. With a population of over 28 million, The Lone Star State is the most populated state in the US. The #1 predictor of real estate prices is job growth. Typically, new construction homes come with a higher purchase premium, and repair and maintenance require too much investment. This means home sellers who can get on the market early has a distinct advantage over those who will opt to wait. Healthy leasing activity and increased investor demand for larger assets sets the commercial market in Romania up for a good start to 2020. A cap rate of less than 2% seems like nothing when a good cap rate is usually in the range of 8%-12%. NAR Chief Economist Lawrence Yun and 12 leading real estate and banking economists and … In 2018, 85,000 people moved to Texas from other states, for a total population increase of 380,000. Price Check. Houston’s economy should add 71,000 new jobs this year. As we’re seeing in other locations with active iBuying operations in place, real estate professionals who can provide expert-level advice with a customized approach built on strong personal relationships will remain on top. There will be plenty of buyers who will think they got a good deal, only to find out it’s a disaster later. As you can see from the Houston real estate market analysis above, things are looking good for investment properties in H-Town in the coming year. “Which Houston neighborhoods are hit hard by COVID-19 and oil price crash?”, “Which areas in The Bayou City are doing well despite the pandemic and economic downturn?”, “How is my neighborhood doing? Major loss of life and socioeconomic losses were suffered during this epidemic . Jobs. These suburbs have grown large enough where buyers were willing to pay more for certain lots in prime, non-flooded locations, zoned to top-ranked schools. According to the CDC, the main reason that COVID-19 is of higher concern is the pace at which it’s spreading: “The virus that causes COVID-19 seems to be spreading easily and sustainably in the community (“community spread”) in some affected geographic areas. They will be able to find and buy properties at fair market value without entering into bidding wars with other property buyers. As of May 5, the World Health Organization (WHO) was saying there have been: Outside of COVID-19’s country of origin, the WHO is reporting a 3.4% death rate for those who have contracted it. Even allowing for a 50% decrease due to the upcoming elections, stock market corrections, the trade war with China, etc., Houston is poised to add over 40,000 jobs in 2020. See how the Lake Houston-area real estate market fared in November 2020 Home sales increased in six out of seven Lake Houston-area ZIP codes … Romania’s real estate market is buoyed by one of the strongest GDP growth rates in the EU. Properties that have been sitting on the market for a while even BEFORE coronavirus and the current energy crisis will be slashing prices left and right. Galveston Real Estate Market Forecast 2020. Demand is one of the most important factors for good return on investment on rental properties. At the city level, the traditional cap rate surpasses the Airbnb one, even if by only half a percentage point, as calculated by Mashvisor’s real estate investment tools. We’re adding more than 250 new residents each day because: For the majority of Houston, it will still be a seller’s market, but we’re seeing it less and less so each month. If H-Town is on your mind, here you can figure out the Houston housing market predictions for next year to decide if it really fits your real estate investment priorities. Like we said above, whenever turbulence arises, we have a flight to quality. As with any downturn, there’s a flight to quality. Using real estate comparables and rental comps for H-Town properties, Mashvisor’s investment property calculator has computed the most important indicators in the Houston housing market 2020 for investors. 4 Things To Know About the 2020 Housing Market in Houston We asked experts the questions in the backs of everyone's minds. What this means for property investors is high demand for vacation rentals in 2020. The fact that Airbnb Houston remains legal is a strong positive force in this regard. No representations or warranties, either expressed or implied, are made to the accuracy of the information herein, or with respect to suitability, usability, feasibility, merchantability or condition of any property described herein. I May Need To Sell. after the 2008 crash, average home prices still increased for ~12 months). We'll tell you the "bad' and the "ugly" about any property we show you. Those numbers are grim and could dictate how the housing market will perform this year. Free Guide to Houston's Best Neighborhoods, See how showings, new listings & sales trended day by day during the lock down, impact of the oil price crash on Houston jobs, Study Of How Previous Pandemics Affected The Real Estate Market, Support Local: How The Houston Properties Team Is Helping Out Small Businesses. Denver Real Estate Housing Market Forecasts & Trends 2020 Denver is one of the most desirable cities in the U.S. Use analytics to find lucrative traditional or Airbnb properties in a matter of minutes. However, home inventory 5 years ago was only at 2.7 months. Cost of living in Houston ranks third lowest among the nation’s top 20 most populous US metropolitan areas. Contact us for a custom report on the Houston real estate outlook for this year. Remember: real estate is hyper-local! Both Traditional and Airbnb Investments Will Be Profitable; Above all, the Houston real estate market is and will continue to be lucrative in 2020. 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