From Houston Association of Realtors

Many have been asking HAR what 2015 holds for the Houston real estate market, especially in light of dropping oil prices, and without the benefit of a crystal ball, we turned to the experts for their insights.

Stewart Title Chief Economist and former HAR Chairman, Dr. Ted C. Jones, expects home sales to decline by 10-12 percent, while prices continue to rise by between three to six percent.  Jones also expects months’ inventory to rise to about 5.6 months in 2015, up from 2.5 months at the end of 2014.  “Instead of a dramatic collapse, what we are likely seeing is a reversion to the mean – we are moving out of an exceptional market with unsustainable performance to a market that is healthier and normally functioning,” said Scott Davis, regional director of Metrostudy.

Zillow Chief Economist Stan Humphries recently published a report that projected Houston home prices would rise 2.1 percent in 2015, slowing from 2014 levels primarily due to a growing supply of new construction homes.

Read more projections in the February edition of Houston REALTOR® magazine at http://realtormag.realtor.org/news-and-commentary/economy/article/2015/01/2015-forecast-gains-ahead.

If you need help deciphering the market, call me at 713-829-3052.

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