The Houston housing market in 2021 holds fascinating surprises on its own. The Houston real estate market, especially on which neighborhoods are doing well despite the economic turndown, political climate and the pandemic, the Houston housing market has been running 7.7% ahead of 2019’s record pace. After all the uncertainty and roller coaster ride it was in last year, the Houston housing market was strong in 2020 because of the record-low mortgage rates, it give buyers more buying power.

If you are thinking about buying a home in 2021, or thinking about investing in a Houston property, it is only logical to tap into the stability of the Houston housing market as it provides one of the best and secured long-term real estate investments in America.

Houston Population Growth 

The latest U.S. census estimates make Texas the highest-growth state in the Union adding about 370,000 people in the July 1, 2019-2020 period; with Houston as the biggest city by population in the state of Texas, which accounts for 8% of the state population. Houston's population growth is projected to reach 7.5 million people by the end of 2035.

• Houston is the biggest city by population in Texas and the fourth most populous city in the United States, after New York City, Los Angeles and Chicago.
• The metro area population of Houston is 6,491,000, a 0.80% increase from 2020.
• Population density is 3,660 people per square kilometer, which is one of the most densely populated major cities in US.

Houston Job Market

Houston is home to at least 21 Fortune 500 companies in 2020 list. With employment as the driver, over 92,000 people moved to Houston last 2019. While the latest Texas jobs report shows the unemployment rate is slightly higher than the national average, the average annual income is higher than what residents of many other major metro areas make.

• Houston’s economy is driven approximately 60% by the U.S. business cycle, 30% by oil markets, and 10% by long-term factors.
• Top industries in Houston are Health Care and Social Assistance, with total employment of 336,900; Accommodation and Food Services (294,800); and Professional, Scientific, and Technical Services (237,000).
• Houston is positioned as the “Space City” because of the NASA Astronaut Corps.

Houston Property Market

You’ve probably heard that the Houston housing market is doing well despite the pandemic. Let’s look at the current 2020 statistics in Houston to help you decide if 2021 is a great year to buy a Houston property from Houston Association of Realtors (HAR) Market Update last November 2020.

• Single-family home sales increased for a sixth consecutive month, surging 25.6 percent year-over-year with 7,990 units sold;
• The Days on Market (DOM) figure for single-family homes dropped from 59 to 46;
• Total property sales shot up 28.1 percent with 9,660 units sold;

We anticipate a strong 2021 property market in Houston as we have seen in 2020 - even with COVID-19 pandemic. The new administration push to expediate managing the vaccine distribution and the anticipated $1.9 trillion dollar economic stimulus package will greater help the Houston housing market.

Read more about the Houston 2021 real estate outlook, or the ApexPro real estate blog

About ApexPro Real Estate Group

ApexPro Real Estate Group is a full-service real estate brokerage specializing in single family and attached residential properties throughout Houston and the surrounding areas. We are a privately-held small business that brings together top agents, cutting-edge technology, and unparalleled service to help clients throughout Houston to buy and sell real estate — and enjoy themselves every step along the way. Our client reviews are exhibits our dedication to help our clients extends beyond the closing table and we would love to earn your business.