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2024 Housing Prediction Houston, TX
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In this episode, we dive into housing predictions for Houston, Texas in 2024. Jen interviews a 25 year veteran of the homebuilding industry about the market conditions for builders last year and an upcoming proactive approach some home builders are implementing to keep ahead of market trends.
Jen and guest Benita Owens of Meritage Homes explore local housing market dynamics, including interest rate trends and buyer behavior. They talk about pricing strategies - explaining how pricing is responsive to interest rate changes and buyer demand.
Overall, we have an optimistic outlook for the Houston housing market, encouraging potential buyers to invest now, foreseeing price increases as interest rates potentially drop in 2024.
In this episode, you’ll learn:
- A plan aiming to meet the anticipated buyer demand
- A widespread expectation of a market crash
- A scarcity on inventory and the recent dip in interest rates
- A gradual decrease in interest rates and prediction on influx of buyers
- A potential decrease in interest rates by 2024, might be a surge in market activity
Must-listen moments:
[00:00:31] Benita Owens' introduction, representing Meritage Homes at Montgomery Oaks
[00:00:50] 32 years of experience in home building
[00:01:50] Analysis of the 2023 market for builders and its success
[00:02:16] Meritage's plans and strategies for 2024
[00:02:54] Buyer demand in the Houston market, especially in the Conroe area
[00:04:13] The correlation between housing prices and interest rates, and the best time to buy
[00:05:18] Texas down payment assistance and its impact on interest rates
[00:06:58] Pricing range in Houston's market and future predictions
[00:08:09] Houston's appeal due to low cost of living and housing affordability compared to other parts of the country
[00:08:46] Final predictions on inventory, buyer demand, and market trends for 2024
[00:09:34] The advice to 'marry the home and date the rate,' emphasizing the current market opportunity.
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Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497
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📌More Helpful Content:
▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE
▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU
▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
Equal Housing Opportunity Lender NMLS# 514497
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Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
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https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
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