Good time to buy a house? (Houston: 2013, apartments, renters)

[ftbend06]

This will vary by area, but I think now is a better time to buy than a few months ago. It has slowed a bit in my area. Could slow more once school starts. I think it's more seasonal than anything (as others have touched on). I don't think we're headed for some sort of crash, but I think things were/are overheated and will cool off a bit. That's my two cents. In another part of town it could be different.

[Touchdown76]

Thanks for all the great tip guys! Im looking in the area of Katy but since I'm new to Houston i don't know which area is good. According to my research, the south of Katy is a good area but the price is way too high. I found this community in Morton ranch and grand parkway. But they raised their price $12,000 more in 1 month. Now I'm just debating if I should go for it or wait after summer to see if it goes down or if I will have more options.

[cheryjohns]

What subdivision? You said Morton Ranch - but I don't know if you just meant Morton as a street.

[dd1153]

Yesterday was the best time to buy
Today is the next best option

[analogkid84]

Yeah, this area is very reminiscent of the Seattle/Puget Sound area in the late 90s/early 2000s. I don't think prices are going to "ease" here for a while based on the pattern I observed when living there, especially if the population that can afford to buy a house continues to grow. I'm not super-knowledgeable in these things so maybe I'll be wrong, but it just looks very familiar.

[hulio82]

Start looking now and try to nail down the house, floor plan, etc that you like and the range its going for and like others posted, get all your finances in order. We were in a similar situation last year where we were looking for a house, but didn't absolutely need one. kept on looking and found one we really liked and since it was an inventory home and the builder was just trying to get it off their books by end of the month, they cut us a really good deal.

[gwarnecke]

I started seriously looking to buy in late 2011 and didn't make a move until Q1 2013. At the time, it stung a bit because I'd seen prices rise so much from when I started looking. Now, I'm just glad that I didn't wait any longer, as prices have continued to increase.

Having said that - the market is really heated this time of year, with lots of families trying to close and get moved in before school starts. In the fall and winter, both demand and supply tend to drop. I'd expect little net effect on prices, but if you find the right house for you in the winter, you may have less competition now than if the house were to hit the market over the summer (particular if it's in a family-friendly area).

[dd1153]

Spring / summer - more inventory, more buyers
Fall / winter - less inventory, less buyers

Demand is _TYPICALLY_ lower in the Fall / Winter.. however, in a market where there is only a 2 month supply of homes, demand will always be around all year long.

[DejaBlue]

Originally Posted by Schumacher713

There will be more inventory after the summer rush. I don't know if it will really go down that much. You will certainly have more options though. Families move in the summers so their kids don't miss school.

That doesn't make sense. With the way everyone is all "I'm moving to Houston!" and every list and article proclaiming Houston as the land flowing with jobs and money I would think the most inventory is now. At least the nicest stuff.

Any person wanting to sell waits until maybe April-May to put it on the market because people move in the summer and there's the housing wars with out of state people flying in, putting in higher bids and it being Houston eBay.

I feel like the people moving to Houston are people with children so they look towards the beginning of summer.

Now is the time to renovate and such where your $200k can be $300 something in June 2015

[Touchdown76]

Originally Posted by cheryjohns

What subdivision? You said Morton Ranch - but I don't know if you just meant Morton as a street.

The subdivision is waterstone close to morton and grand parkway. Do you have a good recommendation?