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Learn More About Sell My House for Cash Lubbock Texas

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Lubbock housing market shows signs of cooling, experts say

The Lubbock, Texas housing market may be loosening up soon after several years of being tight. This news comes from KCBD and is a sign of hope for the local area's real estate industry! However, when it comes to Lubbock's housing market, realtors face a complicated situation. Thankfully though, compared to the tightness experienced earlier this year and last summer, buyers now have an easier time obtaining a house in certain respects. We may have entered a new era in the housing market and are approaching normalcy. “We still are just on the side of a seller’s market but heading more into a balanced market,” Donna Sue Clements, president-elect of the Lubbock Association of Realtors, said. Rising interest rates could be a contributing factor to the precarious balancing act many businesses now face. Homebuyers may not have the same buying power, and sellers might be making less than expected in return. The housing market in the Lubbock area is experiencing a high demand, with an inventory of 1.9 months - meaning that homes are selling faster than they can be listed! “(That means) if we don’t allow any other houses to be listed and we go through -- we’ve got 1.9 months to sell the inventory that we have,” Clements said. “And then we would run out of houses to sell.” However, the figure is still restricted. Furthermore, the rapid construction of new buildings has contributed significantly to the recent spike in inventory. “I always tell people, today is the cheapest time to build or buy,” Keith Toogood, president of the West Texas Home Builders Association and area builder, said. In recent weeks, Lubbock has been graced with the presence of two noteworthy companies. Investing in new construction and boosting the existing housing stock is an effective way to ease our current real estate woes. Of course, constructing a house requires more resources than buying one already built; however, it's worth it for those that can afford it. “If you look up at five years from now or two years from now, prices are going to be higher than they are today,” Toogood said. “Prices will historically increase, but so will value.” Consequently, home builders and realtors remain hopeful that the trajectory towards normalcy will continue in its current direction. “We are prepared for that,” said Clements, “we’ve got the availability.”

[cashforhouseslubbocktexas]

Cash For Houses Lubbock Texas