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Old 11-19-2014, 12:00 PM
 
60 posts, read 69,116 times
Reputation: 116

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Some folks on this board posted that they believed Houston Real Estate was (and will be) slowing down due to an oil price driven decline in economic activity.

Yet, I just pulled up data from Realtor.com and it shows (for October) a monthly increase in price, decline in inventory and decline in days-on-market. So, is the market still 'hot' or is there actual evidence that it's cooling?


http://www.realtor.com/data-portal/r...ics?source=web
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Old 11-19-2014, 12:13 PM
 
280 posts, read 384,922 times
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follow the business news and look for any announcements of lay-offs. If (when) that happens then you can see the real estate market start to turn.
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Old 11-19-2014, 12:22 PM
 
222 posts, read 451,219 times
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I dont think anyone has said its cooling atm. I think people have said its coming due to the oil prices and foreseeable lower profit margins for capital projects...
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Old 11-19-2014, 12:46 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,755,289 times
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Oil prices just started dropping at the start of October but they dropped hard and fast. That's not going to show up until Q1 of next year though, the O&G industry doesn't turn on a dime.
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Old 11-19-2014, 12:52 PM
 
Location: Westchase
785 posts, read 1,236,511 times
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People on this board always foresee a housing or economic crash whenever it rains. Just watch the morning news and you'll see it coming too!
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Old 11-19-2014, 04:06 PM
 
1,743 posts, read 3,828,329 times
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Quote:
Originally Posted by crono_clone View Post
People on this board always foresee a housing or economic crash whenever it rains. Just watch the morning news and you'll see it coming too!
Completely agree.
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Old 11-19-2014, 04:38 PM
 
Location: Beautiful Northwest Houston
6,295 posts, read 7,522,032 times
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Quote:
Originally Posted by chris_ut View Post
Oil prices just started dropping at the start of October but they dropped hard and fast. That's not going to show up until Q1 of next year though, the O&G industry doesn't turn on a dime.
Oil prices have been dropping since late June



Maybe there is other economic activity helping to drive the hot housing market in Houston.

Oil Price: Latest Price & Chart for Crude Oil - NASDAQ.com
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Old 11-19-2014, 06:02 PM
 
232 posts, read 463,926 times
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Quote:
Originally Posted by EMGuy View Post
Some folks on this board posted that they believed Houston Real Estate was (and will be) slowing down due to an oil price driven decline in economic activity.

Yet, I just pulled up data from Realtor.com and it shows (for October) a monthly increase in price, decline in inventory and decline in days-on-market. So, is the market still 'hot' or is there actual evidence that it's cooling?


http://www.realtor.com/data-portal/r...ics?source=web
The market has slowed down in The Woodlands for sure. Houses have been on the market longer and the prices have come down ...but then again they went up to crazy numbers last year so they're really just adjusting to what they should be.
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Old 11-19-2014, 06:26 PM
 
Location: Houston, TX
469 posts, read 1,102,795 times
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Quote:
Originally Posted by cockermom View Post
The market has slowed down in The Woodlands for sure. Houses have been on the market longer and the prices have come down ...but then again they went up to crazy numbers last year so they're really just adjusting to what they should be.

That is mostly because of the time of the year. Most families do not like to move during the beginning of the school year. It will heat up again after the new year.
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Old 11-19-2014, 07:02 PM
 
232 posts, read 463,926 times
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Quote:
Originally Posted by Liljo22 View Post
That is mostly because of the time of the year. Most families do not like to move during the beginning of the school year. It will heat up again after the new year.
In other parts of Houston it is probably just this time of year but The Woodlands is a different story. Last year TW was extremely hot and houses were selling at insane prices quite quickly but things slowed down significantly this year and houses have been sitting for months and prices keep declining. However, with the EM downstream group coming next summer, things are sure to pick up again in spring/summer 2015.
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