As oil prices continue to drop, WTI Crude Oil today is $47.93 a barrel, and Brent Crude Oil today is $51.10 a barrel, the question for many is how will the decline impact the real estate market in the Greater Northeast Houston area including Kingwood, Texas? In my estimation based on the area being in a very strong seller’s market (low inventory and high demand from buyers), the outlook for 2015 is very strong for our local market. What I find interesting as someone that is constantly studying the market is that the 24 hour-a-day news cycle is all about planting the seeds of fear to create the drama of the day. Let’s look to the experts to see what they believe in the market, and not focus on a 30 second clip running on the five o’clock news. Be careful falling into the extremes of being a follower of the news circuit, and do your due diligence about what is really happening. I know that Keller Williams Realty Northeast is continually experiencing growth, and the real issue for our area is the high demand of buyers and the historically low inventory. Here are a few of the sources I am reading to stay attuned to the current market and economic conditions.
What Falling Prices Oil Prices Mean for Houston’s Housing Market – Houston Business Journal
10 Reasons Real Estate Will Rock in 2015 – National Association of REALTORS
What $200,000 Can Get You in the Houston Area’s Real Estate Market – Houston Chronicle
A Case for Why Lower Oil Prices are Good for Houston – Houston Chronicle Blog Featuring Interview with Scott Davis of Metrostudy
For more information about how you can take advantage of the current market as a home seller, contact a Keller Williams Realty Northeast agent today at 281-358-4545. There is no better time than now to sell a home! Keller Williams Realty Northeast is also seeking both new and experienced agents to join our dynamic, growing team. Contact Team Leader and Real Estate Business Coach, Jeremy Williams to get started today at 281-812-8245.
