How’s houston housing market right now (West: apartments, home)

[va_residents]

Originally Posted by futuregleam

I’m also seeing some houses in the 200s range being flipped and selling in the low 300s in the energy corridor. Some flip houses sell quickly, some just sit there

BP laid off many people last year. I doubt the local housing market will keep going up.

[HTownNearNative]

Originally Posted by Waffleton

Are you referencing the home listed for 475k?

No.

Congrats to 2Peaches2oranges in the purchase of a home! You have the right attitude. Hope it all goes well!

[LocalPlanner]

Originally Posted by va_residents

BP laid off many people last year. I doubt the local housing market will keep going up.

It is true that the underlying economic foundations of the housing market are weaker in Houston than other Texas cities (except Midland/Odessa). But there are other major forces at work - low mortgage rates combined with the Millennial generation (the largest generation by population) now being primarily in its 30s and having kids, plus increased work-at-home driving the need for folks to find homes with sufficient space.

It's worth noting that in 2015-2016, when the oil industry was also laying off and contracting, the local for-sale housing market didn't take too much of a hit. It mainly shifted emphasis to lower price ranges.

[Jtxg]

Originally Posted by TallGreengrass

What part of town are you noticing this? And how often?

Far west and southwest suburbs. Think Richmond/Rosenberg/Katy, newer developments

[gwarnecke]

Originally Posted by LocalPlanner

It is true that the underlying economic foundations of the housing market are weaker in Houston than other Texas cities (except Midland/Odessa). But there are other major forces at work - low mortgage rates combined with the Millennial generation (the largest generation by population) now being primarily in its 30s and having kids, plus increased work-at-home driving the need for folks to find homes with sufficient space.

This is exactly what I'm seeing in our Energy Corridor neighborhood. Professional couples in their 30s, many in the energy industry and many with young kids, are graduating from their inner-loop apartment or patio home and find the Energy Corridor an appealing balance of price, house/lot size, convenience, and school quality. Many buyers want a home with 4/5 bedrooms plus a study, so that both parents can comfortably work from home.

Our neighborhood felt like a retirement community before Harvey, but these days it is filled with young families.

[shanv3]

Originally Posted by gwarnecke

This is exactly what I'm seeing in our Energy Corridor neighborhood. Professional couples in their 30s, many in the energy industry and many with young kids, are graduating from their inner-loop apartment or patio home and find the Energy Corridor an appealing balance of price, house/lot size, convenience, and school quality. Many buyers want a home with 4/5 bedrooms plus a study, so that both parents can comfortably work from home.

Our neighborhood felt like a retirement community before Harvey, but these days it is filled with young families.

Is it zoned to katy or spring branch? In the 300 to 400s all we get is low rated schools of hisd. But nice houses though. For the nicer schools in spring branch nothing less than 800 for 4beds.

[gwarnecke]

Katy ISD.

The elementary school is close by and is loved by families for the great staff and small class sizes. Its ranking/test scores aren't great but have been improving. The middle and high school are rated higher than the corresponding SBISD schools but are all the way out in Katy.

The school situation does limit the neighborhood's appeal somewhat, but many of our neighbors are fine with it (and/or were planning to go private anyways and didn't want to pay a premium for SBISD schools).

[Waffleton]

Originally Posted by shanv3

Is it zoned to katy or spring branch? In the 300 to 400s all we get is low rated schools of hisd. But nice houses though. For the nicer schools in spring branch nothing less than 800 for 4beds.

Head a few miles west to Green Trails or Kelliwood and you get high rated schools at $120/sq ft.

[LocalPlanner]

Originally Posted by shanv3

Is it zoned to katy or spring branch? In the 300 to 400s all we get is low rated schools of hisd. But nice houses though. For the nicer schools in spring branch nothing less than 800 for 4beds.

On the HISD side of the Bayou you can get Barbara Bush Elementary in that price range. Even Westbriar and Westside are considered OK. "Low-rated" is exaggerating.

Why spend an extra 15-30 minutes commuting?

[LocalPlanner]

Originally Posted by gwarnecke

This is exactly what I'm seeing in our Energy Corridor neighborhood. Professional couples in their 30s, many in the energy industry and many with young kids, are graduating from their inner-loop apartment or patio home and find the Energy Corridor an appealing balance of price, house/lot size, convenience, and school quality. Many buyers want a home with 4/5 bedrooms plus a study, so that both parents can comfortably work from home.

Our neighborhood felt like a retirement community before Harvey, but these days it is filled with young families.

It feels weird to have 77079 / 77077 now considered an "in town" option for families - they were east San Antonio when I was growing up!