Real estate
BY LIZZY SPANGLER
HAR CEO, President René Galvan discusses the organization, Houston’s real estate market
them every step of the way. When it comes to the housing market in the Greater Houston area, what trends are you seeing? The Houston market continues to nd its balance. Inventory is expanding, which means buyers have more options, and we’re seeing home prices level out in many areas. Homes are also taking a bit longer to sell. That’s giving buyers more time to make decisions and bringing negotiations back into play. Even with some interest rate volatility, activity remains steady. Overall, it’s a healthier, more normalized market, and that’s a good thing for both buyers and sellers. Houston has largely returned to pre-pandemic levels, while many major metros across the country are still working toward that same stability. What factors, economic or otherwise, do you see aecting the Houston housing market? Aordability continues to be the biggest factor shaping our market, as well as the U.S. housing market overall. Here in Houston, there’s steady demand, but many buyers are feeling the impact of volatile mortgage rates, which directly aects what they can comfortably aord each month. There’s also the rising cost of homeowners insurance. It’s no longer just about the home price. Buyers need to look at the full monthly cost of ownership, and insurance premiums can vary sig- nicantly depending on location and risk factors. Can you speak to the near future of the Houston housing market? What do you see happening? I believe we’ll continue to see a more
René Galvan was appointed the new CEO and president of the Houston Association of Realtors in February, as previously reported. Galvan succeeded Bob Hale, who retired Jan. 31. In an interview, Galvan discussed his background, what HAR does and the real estate market in the Greater Houston area. What do your responsibilities entail as the president and CEO of the Houston Association of Realtors? As president and CEO, I work with our board of directors to set the strategic vision for the organi- zation as well as promote engagement with our members and the community we serve. Broadly speaking, what does the Houston Association of Realtors do, and how do Realtors and buyers interact with HAR? HAR is here to support real estate profession- als and, in turn, help consumers navigate the homebuying and selling process. For Realtors, HAR provides tools, data and other resources they need to do their jobs eectively. This also includes access to market data, education, technology and advocacy at the local, state and national levels. For consumers, we are best known for HAR.com—the place most people in our market go to search for homes online. HAR.com is the top home search site in the Greater Houston area. Buyers and sellers can search for homes, explore neighborhoods and connect directly with a Realtor. It really all connects. Most buyers start their search on HAR.com, and when they’re ready, they connect with a Realtor who helps guide
normalized market. That said, there are still some external factors that we need to watch. Mortgage rates have been volatile in recent weeks, and that’s largely tied to broader economic conditions, including ination and geopolitical issues, such as the ongoing conict involving Iran. We’ve already seen how that kind of instability can push rates higher and impact consumer condence. The good news for Houston is that we tend to be more resilient than many markets.
This interview has been edited for length and clarity. For a longer version, visit communityimpact.com .
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