Real estate markets across the country have experienced interesting transitions in pricing and availability since the pandemic, and the Houston real estate market is no exception. Over the last few years, Houston’s real estate market has been affected by some of the highest mortgage rates in two decades, which has caused some home buyers to shift tactics.
Many have turned to renting over owning a home, many buyers are opting to build rather than buy, and some have even expanded their home search radius out to the suburbs and beyond to find great home options.
If you live in or are considering moving to Houston, here are a few things you should know about the real estate market:
#1: Home Buyers are Searching for Affordable Housing
“Elevated interest rates are continuing to fuel the housing market beyond the city limits,” said HAR Chair Cathy Treviño with LPT, Realty. “Many homebuyers are searching for affordable housing and space…”
With affordable housing driving the search, buyers are exhausting every option available from expanding their search radius to considering new land development or even undeveloped land. If you are considering developing your own land, you’ll want to take into account the cost of preparing the land for a build and working with a custom builder to make your dreams a reality.
Texas Rock Milling can work with a custom builder to prepare the foundation for your future home. We can support the project to create access to the land, transform any barriers to your build, and clear the land for your builder to bring your dreams to life.
#2: Construction Starts Totaled $2 Billion in February 2023
People are building in the Houston Area, and you can too!
The South Texas terrain is tough. By creating usable materials from rock, we help our clients save money on concrete and eliminate the need to import or export material.
READ MORE: Repurposing Raw Materials: What Difference Does it Make?
Whether you are a home builder looking to save your customers some hard-earned cash or a homeowner wanting to minimize your total cost, Texas Rock Milling can help your bottom line and offer unique ways to reuse your existing materials.
#3: Suburbs are Among the Most Desired Areas to Move
The Houston Association of Realtors reported that many home buyers are expanding to the suburbs to find affordable housing. Their top ten suburbs contain five where the average sale price was below the Houston area’s average of $416,664. (Source)
This is the perfect time to build the home of your dreams outside of the city itself. Whether you’re looking at some of the many new subdivision developments or that perfect spot outside of Houston, there are many great areas to consider for your new home.
#4: Know What’s in Your Soil
Did you know that there are more than 1,300 soil types in Texas? (source) With such a large number of possibilities, it’s even more important than ever to know what’s in your soil before you decide to build. This allows you to be aware of any potential barriers you’ll have to overcome with landscaping, additions, and more.
Houston may not “technically” be in Hill Country, but there are still many barriers to work with when clearing the land, and it can be done in a time-efficient and price-efficient way.
Texas Rock Milling is based near San Antonio, so we have years of experience working in Hill Country surrounded by rocks and other potential barriers you may face in your soil.
#5: Inventory is Expanding
Recent reports show that the real estate inventory has expanded to have a little more than a three-month supply. This gives potential home buyers more options to choose from. This is the healthiest the real estate inventory has been in Houston since November of 2019. (Source)
However, if you don’t see exactly what you want on the market, consider looking for homes with the potential to add-on to the existing structure. We have worked with many clients to pave the way for an addition to expand the floor plan of their existing home.
—–
Whether we are working with individual home buyers, developers, or landowners, Texas Rock Milling can solve the challenges the Houston landscape presents while passing the savings on to you.
If you are looking to make the move to this market, Texas Rock Milling is the go-to option for minimizing your expenses when it comes to a new build, addition, or reinforcing access to your land. Be sure to mention us to your builder as well!
We hope to see you around the neighborhood soon!
We are transforming the rough south Texas terrain into base and usable material. Learn how.