As oil goes, so does Houston real estate. That was made obviously evident in the 1980’s. But here, as we head into 2016, the Houston housing market has stayed amazingly robust. This is in spite of oil prices that have fallen far below $100 a barrel, which is the assumed benchmark for economic stability of the city.
Many attribute this stability to a more diverse economy in the area than the 1980’s. But this diversity may be overstated. Sure, there are more restaurants, hotels and retail, but the reality is, they are still fueled by oil and gas. Houston has 25 companies in the Fortune 500. One should keep in mind 23 of those 25 are energy-based.
Is this stability being held up by solid unemployment figures? Possibly, but it would seem more and more O&G workers moving into the city are renting as opposed to buying. There’s been a marked increase in the amount of apartments are being constructed in the region.
Houston house buyers are remaining confident through almost every other sign that would indicate otherwise. If oil prices stay low, some could be in for an awakening. Waiting months for a home to sell under those conditions could be financially devastating. There are concerns that some buyers are “whistling through the graveyard”.
If you are becoming concerned about the value of your house and your ability to sell, it in a timely fashion, contact Senna House Buyers. We are Houston house buyers that buy homes for cash. We purchase them quickly and buy them in any condition. We are not real estate agents and we don’t charge commissions.
We are Houston house buyers that are accredited by the Better Business Bureau. We are upfront about the fact that we are real estate investors. We are an exceptional option to traditional selling methods especially for those who need to sell their houses fast.
Senna House Buyers works with homeowners in Woodlands, Memorial, Spring, Katy and through the region. We work with owners who are going through a divorce, have an unwanted inheritance, have a tax lien, an unwanted tenant or have a property that needs serious rehabbing. Rather than taking months to close, we have been able to complete transactions for cash in as little as nine days!
It will pay to keep a close eye on the Houston housing market. When you are ready to sell, consider all your options. Contact Senna House Buyers to sell your home fast!