The housing market is crazy! The days on market for houses in the Lake Conroe/Montgomery area are very short. I can hardly advertise a new listing before it is already under contract.

Don’t get me wrong; I am not complaining. However, the “feeding frenzy” in real estate is causing people to wonder if the housing market will crash. Some are comparing it to 2007 when the housing bubble burst. So a great question to consider is: Are we in a housing bubble now in 2021?

Dave Ramsey is asked this question directly on his show. A gentleman is wondering if he should sell his house and then wait for prices to go down before buying a new one. Watch Dave Ramsey respond.

I find his response very interesting as it pertains directly to places like Texas. More and more people are moving here from California and other states. In fact according to the  Texas Relocation Report, this is the 7th year in a row that Texas has received 500,000 new residents from other states.

Interestingly, Conroe, Texas is ranked #24 in U.S. Growth Cities by U-Haul. Houston ranked #1, which makes sense since the report also says that Houston-The Woodlands-Sugarland Metropolitan Statistical Area recorded the “highest number of incoming residents from out-of-state.” Considering these findings, the low inventory of houses is completely understandable.

We have heard a lot during the pandemic about the “new normal.” Perhaps we are seeing the “new normal” of the U.S. real estate market. According to Dave Ramsey, we are not in a housing bubble.

If you are considering moving, I hope you find his advice helpful. You need to sell now and buy now. Prices are not going to drop anytime soon. If you were waiting for prices to fall, well I hate to burst your bubble.

Of course, Mike Goins Real Estate is here to serve you for all of your real estate needs. Please contact us to buy, sell, or to inquire about anything pertaining to real estate. We are here to help.