3 Reasons to Sell Your Home For Cash in Harris County

There are three reasons to sell your home in Harris County, Texas: low mortgage rates, lack of inventory, and low unemployment. If you’ve been considering selling your home, you’ll be glad to know that these factors aren’t the only reasons to sell your home in Harris County. Here are 3 reasons why selling your home for cash is the right choice for you:

Low mortgage rates

If you are looking to sell your home in Harris County, you’ve probably already heard about the rising interest rates. However, the same can be said for the Houston real estate market. The median resale price of a single-family home in Harris County was 15 percent higher than it was a year ago. While these interest rates have been a negative for home sellers, they can actually benefit you.

Rising interest rates are not a good sign for home sellers. Rising rates have put more prospective home buyers off the market and driven up prices. A low mortgage rate attracts more buyers to the market, which results in bidding wars and solid profits for sellers. Moreover, a low interest rate makes selling a home easier. If you have refinanced your mortgage recently, you might want to hold off selling your home until you’ve secured your new loan.

Low unemployment

The economy has been in an uphill battle over the past few years, but a recent drop in unemployment has given homeowners in the area another reason to be optimistic. The government is hopeful that a combination of factors will help the local economy grow and create jobs. Some of these factors include the decrease in unemployment benefits and the increase in vaccination rates. However, for many home sellers, unemployment is the most significant reason to sell their home.

While a drop in unemployment may seem like a relief, the impact of this economic development is more severe in poor neighborhoods. Gulfton is particularly affected, with a 38 percent poverty rate. COVID-19 may have cost the jobs of 9.4% of residents. Moreover, home prices are down by about 7%, so these neighborhoods may be the best ones for sellers. Low unemployment is also one of the reasons to sell your home in Harris County.

Lack of inventory

The shortage of housing inventory in Harris County has a variety of causes. The demand for homes has increased as more working professionals move to quieter neighborhoods. The lack of inventory in the area is also a result of the lack of new builds. Due to low supply and unstable building supply costs, builders are having trouble building new homes. New permits are behind by as much as 24% in 2020, and have not recovered in 2022.

Combined with low inventory, housing prices in Harris County and surrounding cities are skyrocketing. There is a massive affordability gap and half a million properties in lower-income neighborhoods are at risk of disaster. The Kinder Institute for Urban Research recently released their report 2022 State of Housing in Harris County and Houston. The study includes data from Houston Realtors Information Service Inc. and the Houston Association of Realtors. The data was collected from April 2020 to September 2021.

Selling your home for cash

Are you looking for a quick way to sell your house for cash in Harris County? You may have a recent divorce, or you might need to sell your home fast because you’re moving to a smaller space. No matter the reason, there are several cash home buyers in Harris County who make all-cash offers. They will make you an offer on your home that you can’t refuse. And these cash home buyers will close quickly!

One of the biggest advantages of a cash offer for your home is that it will make the process go faster. Unlike with a traditional home selling process, cash buyers don’t need to worry about getting buyer financing. Therefore, their offers will be lower than those you can get on the open market. You don’t need to make repairs to sell your house; cash buyers are willing to pay for those expenses. Plus, a cash home buyer won’t charge you any commissions or fees. This means more cash in your pocket!

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