If you are considering a residential property in Houston, it is wise to know what the housing marketing will look like now that we’ve rolled into a new year. The population of this city has been blooming lately—contributing to a growing economy—which has resulted in some real estate trends. Here are a few to watch for.

Predictions for the 2020 Housing Market in Houston

1. Home Value

The value of homes in the Houston area is expected to rise in the next year due to an influx of new residents. There is also no sign of this stopping after 2020, so if you buy now, your investment is likely to continue growing.

2. Buyer’s Market

A buyer’s market means that there are plenty of residential properties to choose from and buyers and investors will reap the benefits in a sale. During their search, they can find high-quality properties at fair market value and sometimes even lower than expected. In addition, the risk of a bidding war is lower due to the abundance of choices. The coming year is promising to remain in the buyers’ favor, according to predictions. 

3. Single-Family Homes

Experts predict that many single-family homes will be up for sale throughout 2020. Currently, they make up about two-thirds of local listings. If you plan on buying a house to rent out, single-family residences are also simpler to manage and finance.  

4. Affordable Rates

While new homes for sale will be above the nationwide average, rental properties will be affordable for buyers looking for real estate investments. This is important for first-time investors who are just beginning their journey in these markets. The more in-demand rentals are in Houston, the more likely landlords will be to find new influxes of tenants at a maximized rental income rate.

When you are ready to purchase a new home, SWE Homes in Houston, TX, is available to help. These residential mortgage loan originators offer owner financing on homes for sale to help you find the house of your dreams. In addition to residential property, they also provide financing for commercial real estate to help you secure a location for your business. To learn more about their offerings, call (713) 413-1000. Visit their website for a free inquiry.