HOUSTON – (Realty News Report)– Houston just finished up its best month ever for home sales.
How good was it?
Good enough that Freddy Rodriguez, broker/owner of Houston’s Re/Max Top Realty has launched a hiring spree.
He wants to hire 100 Houston area agents by December 31, 2020.
“I’m thrilled to announce we’re attracting and hiring the right people for the right reasons,” said Rodriguez. “We are looking for qualified agents who have the desire, hunger and mindset to become the best they can possibly be and with the assistance of our laser-focused directors.”
Adding 100 agents, especially during the coronavirus pandemic, is an aggressive growth target for Re/Max Top Realty. Right now, the firm as only 77 agents, a publicist for the firm said Monday.
A 130 percent growth rate in six months? That’s an aggressive goal.
Re/Max Top Realty has two offices – at 2011 Leeland St. (East Downtown Houston) and 2911 S Sam Houston Pkwy E. (near the intersection of 288 at Beltway 8, just north of Pearland.)
Being optimistic is easy for Houston Realtors this summer.
The Houston Association of Realtors just reported 9,328 single-family homes were sold in June, up 15.7 percent from the 8,063 homes sold in June of 2019.
Last month was the biggest month ever for home sales in Houston – and the Houston Association of Realtors has been keeping records for decades. The Houston Association of Realtors, with 40,000 members, is one of the largest Realtor associations in the United States.
The Realtors – and all buyers of homes – have another reason to be optimistic, or perhaps, overly optimistic: mortgage rates.
The average 30-year mortgage rate fell to 2.98 percent last week, the lowest weekly average since Freddie Mac began producing the survey in 1971. A year ago, mortgage rates stood at 3.81 percent.
The average 15-year mortgage was 2.48 percent last week, compared to 3.23 percent a year ago.
Tamping down the residential market’s optimism is the uncertainty and job losses associated with the coronavirus.
“Mortgage rates fell below 3 percent for the first time in 50 years. The drop has led to increased homebuyer demand and, these low rates have been capitalized into asset prices in support of the financial markets,” said Sam Khater, Freddie Mac’s Chief Economist. “However, the countervailing force for the economy has been the rise in new virus cases which has caused the economic recovery to stagnate, and this economic pause puts many temporary layoffs at risk of ossifying into permanent job losses.”
And Houston, in addition to job losses associated with the pandemic, has seen significant furloughs and layoffs is the energy industry as it suffers through low oil prices and a severe pullback in drilling activity.
July 21, 2020 Realty News Report Copyright 2020
Photo credit: Ralph Bivins, Realty News Report Copyright 2020
File: Realtor Hiring 100 Agents. File 2: Re/Max Top Realty Realtor Hiring 100 Agents in Houston