Housing market: Is now the time to buy?

Chron.com’s Prime Property asked readers last month to vote on whether it was it was a good time to sell a house. The results were close, with 52 percent of folks saying it was not a good time because prices would continue to rise. houston area real estate, real estate texas, houston real estate, real estate in texas, texas real estate, tx real estate, real estate listings, houston texas real estate, real estate in houston tx, real estate houston texas, texas real estate houston, real estate in houston texas, woodlands real estate, houston real estate for sale, real estate for sale houston, real estate for sale in houston, katy real estate, houston commercial real estate, real estate in houston area, homes in houston area, houston real estate market, houston real estates, real estate in houston tx area, houston residential real estate, real estate houston tx area, houston area realestate,houston real estate listings, bellaire houston real estate, houston real estate listing, houston area real estate listings, (That may help explain why our inventory is so incredibly low.)


The poll was based on a survey from Fannie Mae that revealed more Americans thought it was a good time to sell. Today, Fannie released results from a new survey that shows more Americans expect mortgage rates and home prices to climb, potentially spurring home shoppers to act.


The share of respondents who said mortgage rates will go up during the next 12 months jumped 11 percentage points to 57 percent, the highest level in the survey’s three-year history. Those who think home prices will go up in the next year also hit a survey high of 57 percent.


Local experts say the recent spike in mortgage rates isn’t going to do much to move the dial on Houston’s already hot, inventory-constrained market. But clearly the rate hike is having an impact on many consumers.


Provided by Chron.com


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