Houston Housing Market in 2024 Remains Hot at Energy Realty

I hope this message finds you well as we navigate the exciting twists and turns of the Houston
real estate market together. As I reflect on one of the busiest listing weeks I’ve experienced in two
years, it’s clear that our local market is buzzing with activity. However, I’ve also come across online
reports suggesting a downturn compared to 2023. While these reports may paint a broad picture, it’s
essential to recognize that Houston’s housing market is a mosaic of micro-markets, each with its own
unique dynamics.

Here at Energy Realty, our numbers tell a different story. With nearly 130 transactions closed
already in 2024, we’re well on our way to surpassing last year’s figures. Our experience on the ground
reveals a robust market, particularly in areas where we have a strong presence.
In locales like the Energy Corridor, Katy, and Memorial, where Energy Realty thrives, the seller’s
market remains resilient despite fluctuations in interest rates. The strength of the energy sector,
coupled with a 10% increase in oil and gas prices this year, continues to fuel demand and drive prices
upward.

Consider these statistics: the Energy Corridor boasts a mere 2.9 months’ supply of homes for
sale, while Memorial and Katy follow closely behind with 3 and 1.9 months’ supply, respectively. These
numbers underscore the fierce competition among buyers and the swift pace at which properties are
moving off the market.

As we dive deeper into the summer months, I’m reminded of the importance of timing in the
real estate world. While the market sizzles with activity now, I advise sellers to seize the moment before
the prime selling window potentially closes by July. With soaring temperatures and vacation plans on
the horizon, the landscape could shift unexpectedly.

Indeed, the only constant in our industry is change. Just as we’ve weathered the unpredictability
of last year, we remain vigilant in monitoring interest rate fluctuations, knowing that even a slight drop
could alter the game.

In closing, I want to express my gratitude to each member of our community for your trust and
support. As we navigate the nuances of Houston’s diverse real estate landscape together, know that
Energy Realty is here to guide you every step of the way.