Markets & Economy

Buyers grow more cautious in Katy

A reduction in the submarket's home sales activity can be linked to volatility in the oil and energy sectors.
  • Submarket is seeing a shift in terms of where homebuilders are active.
  • Home values have significantly risen in Katy's north region during the past 12 months.
  • Katy's inventory is still below four months.

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Of Houston's outer submarkets, greater Katy accounts for the highest volume of home sales; however, activity in the area has shown signs of slowing as days on market has lengthened. A number of Katy residents work in the energy and oil sectors, and are currently hanging back, making sure they have a job and seeing how the economy will impact oil prices before making a home purchase. According to Christi Borden, a realtor with Better Homes & Gardens Real Estate Gary Greene, greater Katy hasn't seen backward movement on prices despite less buyer competition and longer listing times. She points to the market's relatively low 3.8 months of inventory as a reason for home values holding strong. Several years ago inventory was down to 0.6 months. "It's still a healthy market just not the extreme market we had before," Borden said, adding some buyers that couldn't purchase last year many re-enter the market because of the reduction in competition. Located 30 miles west of ...