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(In October, Sign Boss agents outperformed Houston’s average, listing nearly 15% (14.9) more homes and selling 0.9% more properties. As 2024 enters its final quarter, Houston’s real estate market remains strong, with rising home sales and available inventory. Although mortgage rates have climbed, demand remains steady, with properties moving quickly as both buyers and sellers take advantage of favorable conditions. Nationally, trends show a challenging market for first-time homebuyers, while the average age of all homebuyers is rising, indicating an older demographic navigating today’s market.
According to the latest NAR data, the share of first-time homebuyers has dropped to a record low of 24%, down from 32% last year. Meanwhile, repeat buyers with built-up equity are positioned to buy using cash or larger down payments. In Houston, this trend is mirrored in increased housing demand and an increase in yard sign installations and removals, reflecting active listings. Sign Boss saw a shocking increase of over 300% (303.3) in refills compared to last year. Signaling a strong demand for repeat services as more properties continue to enter the market. In Houston, where the market shows resilience, Sign Boss’s performance reflects an adaptable approach to supporting buyers and sellers in navigating today’s competitive real estate landscape.
The housing market in Houston is expected to maintain steady growth through 2025. With the average homebuyer age rising, particularly for first-time buyers, market activity will likely continue to center around those with more financial stability and cash resources. As more homes become available, sellers and real estate agents will need to balance demand with pricing to remain competitive.
Looking ahead, real estate professionals will need to adjust their strategies to accommodate this shift. For first-time buyers, more resources and guidance will be necessary to help them navigate the higher costs and limited options available to them. On the seller side, keeping inventory moving will be key, and agents will need to offer creative solutions to address the challenges in today’s market.
What are your thoughts on the market? What else would you like to know? Shoot us your thoughts. We plan on sending out these unique market analysis reports regularly to help our agents better grasp what's been going on and more importantly what to expect.
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