Zillow reveals key opportunity for Houston's first-time homebuyers

Erik Barajas Image
Thursday, March 11, 2021
Houston's housing market hot despite COVID-19 pandemic
The year 2020 saw 9% more in sales than 2019. Plus, the average amount of days a home stays on market even shortened!

HOUSTON, Texas (KTRK) -- With home sales hitting record levels, finding your first home in Houston's hot market is challenging. But a new analysis from Zillow identifies a key area of real estate that could afford big opportunities to those trying to break into the market.

In 2020, single-family home sales soared (both nationally and locally), but condo sales were left behind, the real estate authority says.

While single-family home inventory dropped, condo inventory recovered and rose, and the national median condo sale price rose just 7-8 percent year-over-year, compared to single-family home prices growing by 14 percent. Another bonus: Condos generally are priced lower than single-family homes (in November, the median-priced U.S. condo sold for about $41,000 less than a home).

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