realestate

Houston homebuyers face relatively low real estate market competition

Sun Belt housing markets, including Houston, are the least competitive for US homebuyers this spring.

T
he Sun Belt, including Houston, is the least-competitive region for U.S. homebuyers this spring, according to a Zillow report. This shift benefits buyers, who have more options compared to those in tighter East Coast markets.

    In March, Houston ranked as the second-least competitive market nationwide, with only 3.4 engaged shoppers per active listing. The city's housing market also saw relatively few homes selling above list price – just 14.3% did so, a significant drop from the national average of 27%. Homes in Houston typically sold within 28 days, slower than the national median of 17 days.

    Miami was the only less-competitive market, with an even lower ratio of engaged shoppers to active listings and a longer sales period. Only 8.2% of Miami homes sold above their listed price, and they took a median of 50 days to sell.

Houston homebuyers navigate relatively low real estate market competition in Texas.