THE DATA

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Our internal numbers in 2022 & 2023 compared:

• Active Yard Sign Installations: Jan. 2022 - 727 | Jan. 2023 - 885‍
  - Up 8% in 2023 (after adjusting for client growth)

• New Yard Sign Installations: Jan. 2022 - 320 | Jan. 2023 - 344
  - Down 3% in 2023 (after adjusting for client growth)

• Length of Active Yard Signs: Jan: 2022 - 29 Days | Jan: 2023 - 41 Days
  - 12 Days Increase in 2023

• Yard Sign Removals: Jan. 2022 - 246 | Jan. 2023 - 348
  - Up 19% in 2023 (after adjusting for client growth)

• Additional Services: Jan 2022 - 161 |Jan 2023 - 182
  - Up 3% in 2023 (after adjusting for client growth)

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WHAT IT MEANS

• Homes aren't selling as fast, but still beat pre-COVID averages by 19 Days. Our data indicates the time listings are staying on the market is higher than December 2021 (38 Days) but is far from the 60 day average in December 2020 (HAR).
• SignBoss agents outperformed Houston's industry Average in January by 49%! HAR has reported a 30% decline in closings in January, while our agents closed 19% more than the year prior.  were unexpectedly high.
• Underwhelming increase in listing changes. In much of 2021 & 2022, listings were going so fast we were often picking up signs the same week we installed them. With an additional 12 days on the market, we expected significantly more sign swaps & rider changes, but with a 3% uptick, that has largely not happened suggesting it isn't just closings, but overall buyer activity is stagnant

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GENERAL ANALYSIS

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The Houston housing market is currently experiencing steady growth, with both home sales and home prices on the rise. According to the Houston Association of Realtors, the median home price in Houston reached an all-time high in 2021 of $290,000, representing a 9.4% increase from the previous year. This price appreciation can be attributed to a combination of strong demand, limited supply, and historically low interest rates.

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The pandemic has also played a role in the Houston housing market. The city's relatively low cost of living, compared to other major U.S. cities, has led to an influx of buyers from other areas who are looking for more space and lower living costs. As remote work has become more prevalent, many buyers have been able to relocate to Houston without having to worry about commute times.

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In addition to the strong demand, there has been a limited supply of homes for sale in Houston. This has led to a competitive market with multiple offers on many properties, often resulting in bidding wars. The inventory of homes for sale is currently very low, which is driving up prices and making it difficult for some buyers to find a suitable home.

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REASONS FOR HOPE

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With an expectation of rates to come down, home prices in Houston steadily increasing due to continued demand, limited supply, & builder sentiment up for the first time in 12 months, there is a lot to be hopeful for.

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What we're likely seeing is the windfall from the 'buyer's strike' that happened this fall.

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YOUR THOUGHTS?

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What are your thoughts on the market? What else would you like to know? Shoot us your thoughts. We plan on sending out these unique market analysis reports regularly to help our agents better grasp what's been going on and more importantly what to expect.

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