Housing market - best time to list home (moving, economy)

[jd433]

It may be too early but I try to keep my finger right on the pulse of the market. I watch carefully the number of single family homes that are active on HAR. Right now I have seen the number increase from a low of 18,848 in April to 19,566 today. This has been a slow but STEADY increase.

I m telling you that I was in Arizona in 2006 and 2007. I watched the number of active listings LIKE A HAWK! One thing I noticed in Arizona and also in 1990 in California is that the number of active listings started to increase steadily and also never went back down. Well, those were both very bullish housing markets with characteristics very similar to todays market in Houston. However when the number of active listings stopped decreasing and started to increase steadily THAT WAS THE PEAK! We just never realized it until afterwards.

I am going to say that I think that the housing market is peaking out right now as we speak. Remember that interest rates may be increasing later this year and we are already in a super heated market today. Ok, I would say that right now is the best time to sell.

[Thila]

If you live in the burbs then the point to sell would be dictated by the academic school year. Within the loop and beltway that rule would not apply.

[MikeEsq]

jd433 can you say that about arizona and california again clearer please? I did not understand it 100%. Thanks.

[cheryjohns]

Originally Posted by MikeEsq

Good luck selling. Rates increased today, so its more expensive to buy today.

It wasn't all that long ago that rates were 6% - makes today's rates look pretty good, even though they were lower a few weeks back. Everything is relative. House prices are rising because we have a shortage in the more desired areas. When someone move here from out of town - they don't move under a bridge because rates went to 4.25% or higher.

[MikeEsq]

I just noticed that you wrote "under a bridge" as if it was the only alternative to buying a home. What is wrong with renting until the interest rates go down?

[Hope99]

Thanks for all the feedback. We are going to start with all the cosmetic stuff now....hold off on the roof, I think. How much have rates moved in these past few weeks/days?

[diggity101]

Originally Posted by MikeEsq

I just noticed that you wrote "under a bridge" as if it was the only alternative to buying a home. What is wrong with renting until the interest rates go down?

nothing...but if you look at historic averages, there appears to be a better chance that rates will continue to rise rather than fall.

I hope they do fall though since I will be back in the market in a few months!

[dd1153]

just because rates jumped .5% doesn't mean people are not buying houses
i would rather take a thriving economy with 6-7% rates than a down economy with 4% rates

there will be a buyer for your home
good luck

[Meyerland]

List now if you are in a "hot" area or an area with good schools. If the schools are not good, wait until Sept. if schools aren't good, you probably won't get families buying before the new school year.

[cheryjohns]

Originally Posted by jd433

It may be too early but I try to keep my finger right on the pulse of the market. I watch carefully the number of single family homes that are active on HAR. Right now I have seen the number increase from a low of 18,848 in April to 19,566 today. This has been a slow but STEADY increase.

I m telling you that I was in Arizona in 2006 and 2007. I watched the number of active listings LIKE A HAWK! One thing I noticed in Arizona and also in 1990 in California is that the number of active listings started to increase steadily and also never went back down. Well, those were both very bullish housing markets with characteristics very similar to todays market in Houston. However when the number of active listings stopped decreasing and started to increase steadily THAT WAS THE PEAK! We just never realized it until afterwards.

I am going to say that I think that the housing market is peaking out right now as we speak. Remember that interest rates may be increasing later this year and we are already in a super heated market today. Ok, I would say that right now is the best time to sell.

We are not California or Arizona. Our normal inventory is about twice what it is now. Our high was about 46,000. A difference of 500 houses is not major here. By the time you factor in that there is always a bump at the beginning of summer, this still remains a very small inventory for Houston.

We have not peaked - we are not even close.