Greater Houston REAL ESTATE market update with Ft Bend County Realtor Bret Wallace December 2022

In this Video, Bret Wallace is greeting you a Merry Christmas and presents insights for the Greater Houston REAL ESTATE market update this December 2022.

The Greater Houston REAL ESTATE market in December 2022 took its biggest hit at home sales of 2022 so far, falling nearly 30% in November because of a combination of factors, including high mortgage rates and insufficient inventory.

A new Houston Association of Realtors report shows sales in every housing segment suffered in November, including a nearly 45% decrease in homes priced between $150,000 and $250,000. Homes priced between $250,000 and $500,000 fell 27% last month.

A perfect storm of market conditions has led to a rough 2022 for home sales in Houston and across the nation. Mortgage rates have more than doubled since last year, and home prices are still relatively high, keeping more potential homebuyers on the sidelines waiting for better deals.

Do you want to know more about the Greater Houston REAL ESTATE market update and the Greater Houston neighborhoods? Please visit our website at https://homesoffortbend.com/.