By Nancy Sarnoff Houston Chronicle/Chron.com, Thursday, August 14, 2014
It is reported that the demand for housing has hit a record high last month as a large-number of single-family homes traded hands in what continues to be one of the fastest-moving markets in Houston's history. Home shoppers, in many cases, no longer have the luxury of touring a listed home and waiting a day or two, or even a few hours, to make an offer.
"They don't have an opportunity to look at a house and go to lunch and sit down and talk about it," said Carolyn James, an agent with Martha Turner Sotheby's International Realty. "There's such an urgency." Buyers closed on 7,769 homes in July, a small increase over the same month last year, but still an all- time high, according to data from the Houston Association of Realtors.
The lack of liquidity in the market, combined with continuing loan maturities, has created the "perfect storm" in many real estate markets in the United States.