Will house prices go down during winter-early spring?

[p0opstlnksal0t]

the O&G will effect the housing in houston drastically by the end of 2016 probably... I would wait to buy if I were you.

[Failed Engineer]

The sub 200k market has a lot of buyers and competition. I don't think the O&G turmoil will cause prices to drop in that segment. It's not like a $175k neighborhood is going to become $140k in a matter of months.

In that segment, if you find a home you like, you should buy it, IMO.

The 300k+ segment is a different story. I agree with waiting (if possible) wholeheartedly.

[TXbywayof]

In a certain gated community in the EC, with nothing below the 700k range, I noted 65% of listings were reduced in price. Enough said.

[cheryjohns]

Originally Posted by Spartacus713

Median home prices have not receded in most parts of the Houston real estate market, including all of the better parts, for quite a few years now. Even during the first few years after 2008, prices stayed flat, but the volume of homes sold fell through the floor.

Nobody knows the exact timing of turns in real estate market prices, and those turns are certainly not either annual or seasonal. If median prices fall in Houston, it will not because of the seasons changing, it will be because of the huge layoffs in the oil industry and other supporting businesses.

Uh....yeah, they do. 2008 was a little different, due to the extreme economy - but the other years fell into predicted patterns.

Originally Posted by ToyYot

Well, when it comes to my neighborhood, you're wrong. It's always harder to move a house in the fall and there's always a lag prior to the spring rush.

This^^^. When a seller puts his house on the market and the buyers are fewer (mid fall through first half of winter), the seller will often drop. Less need to drop when demand is higher in the spring. The "buying season" has nothing to do with whether it's cold or hot outside. It has to do with the school year. People transfer in and out of town based on that. In town, people don't want to move their kids mid year. They buy in the spring, with plans to move at the end of the school year.

[curbur]

Originally Posted by ToyYot

Well, when it comes to my neighborhood, you're wrong. It's always harder to move a house in the fall and there's always a lag prior to the spring rush.

Although I agree with you, I think he was referring to large swings in price and demand.

[testmo]

Many expect solid pick up in gas prices late 2016. So waiting to purchase then you'd miss the drop

[Meyerland]

Also, there is so little inventory under 215,000$. The competition is more for houses in that price range.

[gwarnecke]

Originally Posted by Meyerland

Also, there is so little inventory under 215,000$. The competition is more for houses in that price range.

Yep.

Prices have stagnated (but not fallen) in my ~400-500 neighborhood in the EC. My bro's ~200 neighborhood in Sugar Land is still going up in value. Inventory is very tight.

I'd be surprised if homes in any price range in Houston drop too much. There are still lots of young engineers in O&G still living in apartments who will be buying their first homes, and others a bit further along in their careers who will take any small drop in the market as an opportunity to upgrade to a larger or better-located home.

Luxury apartment construction has got to slow down. The sign-twirling harbingers of doom have stationed themselves outside of luxury apartment complexes all over the city.

[predatorprey]

Originally Posted by gwarnecke

Luxury apartment construction has got to slow down. The sign-twirling harbingers of doom have stationed themselves outside of luxury apartment complexes all over the city.

Lol. That is so true.