U.S. home sales reached a record high in April, with single-family units increasing by over 7% from this time last year. Homes sold through the Texas MLS (Multiple Listing Service) hit a record high in April, and with the summer selling season right around the corner, 2020 is poised to break more real estate records.
As a result, home prices continue to go up in South Texas and a cross the state. If you’re on the sidelines now may be the time to evaluate your options.
February marked the highest month of home sales nationally since February 2007, rising 6.5 percent from January and 7.2 percent from a year ago. All of the gain was from sales of single-family units, which rose 7.3 percent from a year ago to 5.17 million sales. – National Association of Realtors
What this means for home buyers.
Summer is the typically the hottest housing market.
Inventories may be thinner than in prior years
Price per square foot may be more than a year ago
There may be greater competition for available homes
Being pre-approved may offer an advantage in negotiations.
You should talk to one of our consultant today!
Photo by Tierra Mallorca on Unsplash