Aug 23, 2017
Houston’s housing: A tale of two markets
HOUSTON – Houston’s housing landscape is a tale of two markets amid the oil slump.Multifamily leasing and rents took a tumble amid the energy downturn. Occupancy rates fell as energy companies...
HOUSTON – Houston’s housing landscape is a tale of two markets amid the oil slump.
Multifamily leasing and rents took a tumble amid the energy downturn.
Occupancy rates fell as energy companies shed jobs, and apartments inside the 610 Loop are offering two to three months of free rent as competition mounted from new supply.
Single-family home sales and prices, however, have generally kept climbing despite the oil slump.
Realtors sold a record-breaking 8,414 homes in June 2017, the most in a single month in Houston history, according to the Houston Association of Realtors.
Average home prices have risen throughout the downturn, crossing the $300,000 threshold.
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