July Newsletter

July Newsletter

God Bless America!

“While our market remains healthy, it is becoming clear that the recent “hot market” may have run its course…” Bob Hale, HAR President & CEO

July Residential Market Review: Courtesy of Har.com. Please click on the logo to learn more.

HOUSTON — (July 14, 2021) —  “Houston real estate held to record territory in June with buyers continuing to seize upon historically low interest rates as they purchased homes from among a limited supply. Despite the strong buying activity, the pace was slightly slower in the year-over-year comparison. According to the latest Houston Association of Realtors (HAR) Market Update, single-family homes sales were up 13.6 percent compared to last June, with 10,638 units sold versus 9,362 a year earlier. That becomes the market’s thirteenth consecutive positive month of sales. On a year-to-date basis, home sales remain 25.9 percent ahead of 2020’s record pace. Once again, homes priced from $750,000 and above dominated in sales volume with a 136.5 percent year-over-year increase. That was followed by the $500,000 to $750,000 segment, which soared 87.0 percent.”

  July Commercial Real Estate Highlights: Courtesy of BISNOW. Please click on the logo to learn more.

July 8, 2021 – Texas allowed businesses to reopen earlier than many other states, and avoided additional lockdown measures throughout the rest of 2020. Retail brokers say that Texas Gov. Greg Abbott’s decision to fully reopen the state in March this year has boosted Houston’s retail sector even further, which could lead to a particularly tight market by the end of the year.” “People were able to go out, they were able to dine outside, even early on during Covid. I felt like it was less restrictive in Texas and in Houston compared to the other cities. We’re just not as dense, so we’re not on top of each other,” JLL Managing Director, Land Advisory Services Simmi Jaggi said.

July Mortgage News & Education: Courtesy of thebalance.comPlease click on the logo to learn more.

How To Estimate Your Home’s Value – Why Your Property Value Matters, and How To Get an Accurate Estimate – “The value of your home changes constantly depending on market conditions and buyer demand. If it’s been a while since you’ve done a home value estimate, it may be time to do one. Depending on what you want to do with your home or your mortgage loan, there are several good reasons to figure out how much your home is worth…” 

Additional Resources:
Here are a few references that we have found helpful in understanding our markets and economy… 

  Giving Back: Courtesy of thebalance.comPlease click on the logo to learn more.

I want to bring your attention to our charity commitment, UnBound. Through the generous contributions of more than 260,000 sponsors that make this work possible, Unbound celebrates more than 30,000 children, elders and families in Asia, Africa and Latin America. Chris-Properties has been a contributing sponsor since 2017. Will you join us?

As we continue to gain strength as a community, city, state and nation, please let us know how you are doing and how we can help you!