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The Houston area real estate market has changed dramatically since the housing market imploded in 2008. In 2017, the Houston real estate market is extremely active and currently has a 3.3 month supply of inventory. Anything less than a 6-month inventory is classified as a Seller’s Market. In 2016, the average single-family medium priced home sold for $225,903 in the resale market. Builder’s and Developers have taken note and have dramatically increased their lot and home prices over the past three years.
The big myth about buying a new builder home is that you will get a discount if you don’t use a Realtor. This is false. The model home sales person is not representing you and in some cases, I have heard of sales people receiving a bonus on the sale—just be-cause you have no representation. As a general rule—Do NOT sign a registration form in a model home without listing a Realtor. Depending on the builder—you may have just given up your rights for Buyer Representation. When things go wrong—Realtors have more pull with the builder than you do on your own because Realtors are responsible for almost 80% of all New Builder Home sales in the Houston area.
Your Buyer’s Guide to Inventory, Value & a Great Experience.