Imelda Throws Water on Houston's Hot Real Estate Market

Sales of single-homes in the Houston area were up nearly four percent in August, but Tropical Depression Imelda could dampen the market in the months ahead.

Nearly 8,700 homes sold in August, the second most all-time for the Houston region.

“One of the thing that's driving it, and continues to drive our home sales certainly is lower interest rates and increased inventory on the market,” says Chaille Ralph with Better Homes and Gardens Gary Greene.

Ralph is hopeful this week's flooding won't hurt sales too much moving forward.

“We've seen growth in almost all of the areas where homes were damaged in Harvey,” she says. “We had Allison many years ago as well in 2001 and we recovered from that.”

She urges buyers to gain as much information as possible on any property they're interested in.

“Since we've seen flooding in all parts of the greater Houston area, I think it's important they consult with a realtor and understand what's happened in an area, and make have full disclosure on the history of the property.”

 

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