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Houston Is the Best Real Estate Location for First-Time Home Buyers
For first time home buyers considering Houston as their favourite city, the prospect is good. According to the Houston Business Journal, Houston was chosen as one of the largest real estate markets in the United States and average mortgage payment in Houston is indeed potential for buyers.
That's right - Houston moved up from eighth place a year ago to a fifth place with increased jobs in the energy sector. In fact, most of the home buying opportunities in Houston are located in the industrial area of the city.
Increased sales of single-family homes
The Houston Realtors Association recently announced that single-family home sales rose by 8.7%. For sellers in Houston, this offers an ideal opportunity to sell a home at a reasonable price, or even at a profit. However, depending on the neighbourhood, buyers may find limited residential stocks and prices are competitive.
The average price of a single-family home in the city rose 6.1% to $165,000. This is the average price compared to that of other families in the South, with an average of $ 163,600. However, compared to housing in the West at an average price of $246,300, it is considered a plot theft. The average home price in the northeast is still $238,700.
Housing prices in Houston should remain stable but may increase in some areas of the city. Compared to other underperforming regions of the country such as Florida, California and Nevada, Houston remains a thriving city with a large area of growth.
Is it time to buy a home in Houston?
Although the real estate market is still stagnant in other parts of the country, it is easy to see that the housing market in Houston is stable. For most homebuyers, buying a home is the best option for vacancies in the country. This leads to higher rental rates, which makes the cost of purchasing a home much more appealing.
Since the house is an investment, the amount of money paid on the mortgage will be deducted from the value of the property, rather than being spent monthly on rent. If you plan to stay in a neighbourhood for several years, buying is an ideal option to provide more value to your investment because the Houston real estate market remains strong.