December 8th, 2022 7:06 PM by Edward Foy
Average apartment rents in Houston have climbed 12 percent since 2019, almost $1300/month.
Average home price in Houston is at an all-time high of $411,000. Although the number of homes selling are declining, prices aren't, and homes priced below $300k are selling rapidly. With rising interest rates, a lot of people that decided to "time the market" are now priced out of the market.
Although a drop in interest rates may help you qualify for more home, it doesn't seem likely. With rates and home prices increasing, waiting will likely continue to price people out of the market, simply leaving them with higher rent to pay. What's the interest rate on rent?
Edward Foy The Home Equity Network 281-304-6353 info@HOMEQNET. com www.HOMEQNET.com/LT NMLS 310856 / 218762 _
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