Jun 28, 2016
Buyers prepare: Katy housing market may turn your way
KATY - After two years as a seller’s market, the Katy housing market has stabilized and is headed toward a buyer’s market due to new inventory and the downturn in...
KATY – After two years as a seller’s market, the Katy housing market has stabilized and is headed toward a buyer’s market due to new inventory and the downturn in the region’s oil and gas industry, according to local real estate officials.
Lawrence Dean, Houston’s regional director for Metrostudy—a national company that tracks real estate trends—said while the home resale market remains stable, new construction in several master-planned communities is raising the inventory in the single-family home market.
Those construction projects are providing buyers with more options, especially as Katy goes into the summer months, which is known for increased activity, Dean said.
The Katy Area Economic Development Council tabs the current population for the Greater Katy area at over 317,000, with the population growing by 84 percent between 2000 and 2010.
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