Now's the time to buy a home thanks to lowering interest rates in the Houston area, experts say

HOUSTON, Texas (KTRK) -- With an ever-changing housing market, experts say now is the time to buy.

Cathy Treviño with the Houston Association of Realtors has been a licensed broker for nearly 26 years and says for those looking to buy a home, right now is the time.

"We're seeing prices moderate. We're seeing interest rates coming down just a tab," Treviño said. "They're not at an all-time high, and we're having more inventory on the ground. So, all of these things bear well for buyers."

Treviño says a big part of that is thanks to interest rates going down.

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Interest rates, inflation, and inventory are just some factors experts say they're looking at to better gauge what the housing market will look like in 2023.

In today's housing market, she adds, many sellers are lowering their prices, and buyers are not having to deal with multiple competing offers.

For buyers, she adds there's more inventory to choose from.

"These are a lot of positives for buyers. It just gives them the ability to really be able to look at the market, gauge it, and see if it's the right time to buy," Treviño said.

According to an HAR report, more people are buying homes in communities in the north and western parts of the Houston area this year.

While Treviño says the current market favors the buyer over the seller, consulting a professional for anyone looking to buy or sell remains your best bet for getting the best deal.

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Some properties could see an increase in their taxes due to the value, but this year, there could be some relief.