Hi neighbor,
Today I will be sharing with you our perspective on the local real estate market here in Cypress, Texas, specifically a market update for the neighborhood of Longwood. Whether you are looking to buy, sell, or just keep an eye on the market, we look forward to being your resource.
What is happening in the real estate market in Longwood?
We currently have 6 homes pending, with 0 home sold in the last two weeks.
Compared to the two weeks prior, no homes have sold in Longwood neighborhood. This is most likely a coincidence, so we will be sure to keep an eye on it over the next couple of weeks. Every home is different, with different features, so don’t forget to ask us for your annual equity review if you are curious about your personal home. You can request your free home evaluation here or email us here.
If we look at how fast the move-in-ready homes are going, the demand in this area has not surpassed the supply, making it still a great time to sell. Buyer agents around Houston are seeing a slow in the real estate market, but it isn’t affecting the neighborhoods. I know the interest rates rising has been one deterrent from some buyers purchasing right now, but that isn’t your ideal buyer anyways!
The most desirable homes in the area are still selling the first weekend or first week they hit the market (a really good coming soon campaign, like we do at Jo & Co. allows you to sell faster, for more money).
Check out the graphic below for a larger overview of the real estate market for the last two weeks in Longwood.
Insight From Jo
My Two Cents: Why Now is Still a Great Time to Buy
If you’re thinking about buying a home, you might be wondering how today’s market impacts your plans. Here’s the good news: despite changes in mortgage rates, there’s never been a better time to make your move. Let me explain why!
More Programs, More Opportunities
Today’s market offers more down payment assistance programs and buyer-focused incentives than ever before. These programs are designed to help buyers with everything from covering their down payment to reducing closing costs. Whether it’s 1% down payment options or thousands of dollars in assistance, there’s a program that can work for you.
Builders and Sellers Are Stepping Up
Builders and sellers are offering incredible incentives to help buyers get into their dream homes. We’re talking rate buy-down programs, closing cost credits, and even price reductions in some cases. These deals can make a significant difference in your monthly payments and overall costs, creating opportunities that simply weren’t available a year ago.
Market Adjustments Work in Your Favor
While mortgage rates may seem higher than they were, they’re still historically reasonable. And with inventory stabilizing, there’s less competition for the home you’ve been eyeing. That means you have more power to negotiate and find the best deal that fits your budget.
Build Equity Faster
Buying now allows you to start building equity sooner, especially with prices stabilizing in many areas. Real estate remains one of the best long-term investments, and waiting could mean missing out on the perfect home and future appreciation.
Now is an incredible time to turn your homeownership dreams into reality. With so many programs and incentives available, you might be closer to owning your dream home than you think. Let’s explore your options together—I’m here to help you every step of the way!
The opportunities are here. Let’s take advantage of them! 🏡
What is happening in the real estate market nationally?
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Last week, mortgage rates trended lower. Pending home sales increased in November. In October, home prices increased on the FHFA house price index and the Case-Shiller home price index. Mortgage application submissions dropped. Continuing and initial jobless claims each saw declines, and construction spending was unchanged in November. |
| MORTGAGE RATES CURRENTLY TRENDING | THIS WEEK'S POTENTIAL VOLATILITY |
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Notable News
- Here’s what 2025 will bring for the housing market. Watch Now >>
- Chris Clow on Reverse Mortgage lending opportunities in 2025. Listen Now >>
- The two biggest housing market trends to watch in 2025. Read Now >>
Market Recap
- Pending home sales increased in November, rising 2.2% month-over-month to bring the index to a level of 79.0.
- The FHFA House Price Index rose 0.4% month-over-month in October, a slightly lower increase than the expected 0.5% expected rise.
- The 20-city Case-Shiller Home Price Index exceeded expectations in October, climbing 0.3% month-over-month.
- Mortgage application submissions fell 21.9% from two weeks prior. The holiday adjusted Refinance Index tumbled 36% from two weeks earlier, but was 10% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 13% over the two-week period.
- Continuing Jobless claims fell by 52,000 the week ending 12/21, dipping to a level of 1,844,000. This is a much larger drop than the expected decline of 6,000.
- Initial jobless claims dipped by 9,000 during the week ending 12/28, falling to a level of 211,000. Experts had predicted a slight increase.
- Construction spending was unchanged in November, following October’s 0.4% monthly increase.
Review of Last Week
NO SANTA… Friday, the Santa Claus rally period ended with weekly losses for the three major indexes. However, Santa didn't show in January 2024 either, yet the broad-based S&P 500 went on to post a 23.3% gain for the year.
Traders are hopeful but not happy about the economy, as the December ISM report showed manufacturing contracted for the ninth straight month. Wall Street also continues to worry the Fed will slow rate cuts this year.
But stocks rebounded Friday, helped by the low level of initial jobless claims, reflecting a situation where employers are reluctant to let workers go because they have an optimistic view of the prospects for their businesses.
The week ended with the Dow down 0.6%, to 42,732; the S&P 500 down 0.5%, to 5,942; and the Nasdaq down 0.5%, to 19,622.
Bonds overall finished positive for the week, the 30-Year UMBS 5.5% edging UP .01, to $98.20. Freddie Mac's Primary Mortgage Market Survey reported the national average 30-year fixed mortgage rate up a tad from the prior week. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW… Listings in December were 22% higher compared to last year, the fourteenth straight month of annual gains. However, inventory was at its lowest level since June due to seasonality.
Market Forecast
MORTGAGE APPLICATIONS, SERVICES, JOBS… We'll check the weekly MBA Mortgage Applications Survey for a rebound in buyer activity after the holidays. The December ISM Services Index is forecast to show a little more expansion in activity for this major sector of the U.S. economy. Economists expect the December jobs report to log a smaller number of new Nonfarm Payrolls, a lower increase in Average Hourly Earnings, and a hold to the 4.2% Unemployment Rate.
Summary
The Pending Home Sales measure of signed contracts on existing homes headed up in November for the fourth month in a row, nearly 7% ahead of last year, and at the highest level since the beginning of 2023.
Residential builders spent more on construction overall in November versus the month before. That was 3% more than a year ago, with the monthly gain driven by spending on much-needed single-family homes.
Home prices are rising, but slower. The S&P CoreLogic Case-Shiller National index was up 3.6% annually in October, down from 3.9% the prior month. The yearly gain in the FHFA home price index was 2% lower than a year ago.
Can we sell yours?
So if you are in need of a listing agent, we would love the opportunity to see your home and meet you of course. My husband, Edward, and I, look forward to being the brokerage and team for you! You can reach out to us via email: [email protected] & [email protected] or telephone: 832-493-6685.
Read more:
If you are curious ‘How to get more money for your home when listing it for sale', check out this blog post.
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
We are Waiting for You
If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!
If you are overwhelmed..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! Thank you for trusting us.
What next?!
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
• Download our Moving to Texas ebook! http://byjoandco.com/movingtotexasebook.
• Download our Where to Live in Houston Texas ebook! http://byjoandco.com/wheretoliveebook.
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