Many International brands in different industries took a devastating blow in 2020. We have seen stores like Chuck E. Cheese, GNC and Pizza Hut shutdown as an effect of the pandemic, and over a hundred more have filed for bankruptcy for the same reason. This crisis has brought many companies to their knees thus increasing the rate of unemployment worldwide.
However, several industries have shown an upward trend in their income flow. One of these industries is the Real Estate Industry, and Houston Real Estate is fortunately in that category. With the turn of the year being no different, Houston is now on its eleventh month of positive sales in Real Estate.
In April of 2021, Houston has recorded its highest one-month sales volume increase ever. Also in April, the average pricing for Single-family homes in Houston increased by 20% according to Norada Real Estate Investments.
But how does Houston’s Real Estate Industry seem to be spared from the ills of the pandemic? This can be explained by the basic principle of economics.
As Houston’s Real Estate Inventory is at a low, Real Estate Prices have inevitably gone up. In 2020, the Houston Real Estate Market has reached a record-breaking USD35.3 billion worth of real estate properties sold surpassing 2019’s sales volume by 10%. And this continuing upward movement is expected to go on through the rest of 2021.
With Houston’s current Real Estate Inventory at a low, the competition, as expected, has become tighter. Finding properties to add to Real Estate Agents’ and Companies’ Inventories has become more challenging, but not impossible. This is the perfect time for Real Estate Agents and Businesses to strike. Let Summit VA help you get in on the action.
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About the writer: Graduate with Diploma in Information Technology and Business Administration major in marketing & management. Former teacher for secondary and tertiary level. Former Trainer for Medicare customer support John used to write articles for Houston Real Estate investing and management.