Houston, TX housing market

Houston's market has tilted, and the tilt favors buyers. There are about eleven thousand two hundred homes for sale across the area right now, a deep pool of choices, and roughly three thousand three hundred more hit the market this past month alone. That supply is doing what supply does. The typical Houston home is now worth about two hundred fifty-two thousand dollars, down about 2.2 percent from a year ago. And sellers are feeling it. The median listing is priced near two hundred eighty-six thousand dollars, well above what homes are actually valued at, which helps explain why the typical home takes about 51 days to sell and why nearly 16 percent of active listings have already cut their price. The pattern here is clear. Sellers who price to last year's market are sitting for almost two months, then cutting anyway. If you are selling, price to today's number from day one. If you are buying, take your time and negotiate, because the leverage is yours.