SAN ANGELO, Texas- Across West Texas, the housing market is robust with demand during a time of year that it would normally be cooling down.
Larry Jolley of Larry Jolley Real Estate says now is the best time to put your house on the market.
“I have been here in the real estate business since the 1980s and I’ve never seen a market like this its really amzaing,” Jolley said.
Growth is expected to slow to 4.4 percent in 2022, but the latest numbers show pending home sales rose more than 8 percent in August compared to July.
Now is a great time since experts forecast home prices could rise due to high marketability.
“Normally this time of year it does slow down with the holidays and everything. People kind of settle down in their home and get ready to celebrate those with their families but over the past year we’ve been in a bit of a feeding frenzy which has really spiked the list price of homes,” said Jordan Rose of Keller and Williams Realty.
“What were seeing now is in the past few weeks or so we’ve really seen a lot of homes have price reductions so what that tells me is because of that feeding frenzy, we’ve kind of priced of some buyers and so now were coming back to an equilibrium,” Rose adds.
In San Angelo, an issue home buyers are facing is plenty of demand but not enough inventory. As soon as rental properties are built or a home hits the market, they are sold.
Both realtors gave great advice for people who are interested on both sides of the market.
“Decluttering is extremely important, depersonalizing and anything you can do to make your home bright and airy,” said Rose. “A home that has those dark brown doors on the inside, I think one of the best things you can do to give your home a facelift is to put in white doors, even if you just have to paint those brown doors white, it really makes a huge difference.”
“Friday is the best day to put your house on the market. You’ll always get more money if you put your house on the market on a Friday and then get it marketed over the weekend. We’ve been able to sell houses in one or two days lately,” said Jolley.