OUR LOCAL REAL ESTATE MARKET is driven primarily by 4- forces. In the order of impact, they are; oil, jobs, interest rates and the stock market. Okay, oil plummeted to an 18-year low of around $20 a barrel, unemployment may reach a level not seen since the Great Depression, the stock market is down 30% and interest rates are actually up from recent lows. So, what happened to the market in March? The results were “shocking”. Not only were they good, they were amazing!
March Results For Zip Code 77441:
I have to admit, it appears that I’m in an episode of the Twilight Zone. As I write this, I’m the only one in the Office, stores are closed and I’m still mystified by my wife Debbie having to search for toilet paper! Meanwhile, we are very busy. Go figure! We’re not the only ones either. Although there was a modest increase in the number of Available homes on the market, homes that went under Contract and entered Pending Status may be approaching an all-time high! Not only that, there were (48) homes that Sold. In short, who would have ever thought that in the midst of a world crisis that is paralyzing our nation, that our local real estate market would be posting extraordinary results. Hello, Rod Sterling!