Understanding Buyer's Market For Houston First Time Home Buyers

Good morning and welcome to Houston First Time Home Buyers Edition, where we provide useful information to help Houston first time home buyers make the most informed decision when it comes to buying, decorating, and maintaining their first home. Today we're touching on understanding what is a buyer's market. As a first time home buyer, we want you to understand market shifts, like buyer's market, because it can help you and your Realtor negotiate better buying terms. A buyer's market typically consist of:

• Increased inventory 

• Home sellers authorizing frequent price reductions

• Homes taking a very long time to sell

• Sellers offering incentives in addition to price reduction 

A good example of where this is taking place right now is Katy, where new construction supply, as well as existing homes for sale outpaces demand. In a buyer's market, Houston first time home buyers are in the position to have their Realtor negotiate upgrades, lower prices and concession that includes help with closing cost, and possibly saving thousands of dollars. 

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana