Oil Prices Down, Surge Homes Sales Up

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Houston demand buoys sales and pushes upward pressure on pricing.

Surge Homes, Houston Real Estate Developer and Builder

Surge Homes, Houston Real Estate Developer and Builder

It would seem that the metros in Texas have enjoyed protection from some of the economic realities that hinder new home sales—and we have certainly experienced the demand and excitement at Surge Homes.

Surge Homes, an innovative real estate developer and builder, announces that the demand for homes for sale—ranging from new condominiums and new townhomes to new single-family homes—has held steady despite lower oil prices which demonstrates how Houston’s economy is diversified. There has been more interest and inquiries recently about the real estate for sale, sales of VIP Certificates, which empower prospective homeowners to have first pick of new homes built on any of the Surge Homes sites. In the first week of August alone, Surge Homes sold four VIP Certificates. The successful VIP is scheduled to end in October 2015 for new homes located on three sites: Upper Kirby, Parc at Midtown, and Museum Blvd. Non-VIP buyers will pay a higher home price on any remaining inventory in these communities, therefore it is advantageous to obtain a VIP status.

The demand for residential real estate has buoyed home sales across Houston and Texas, and put upward pressure on pricing. The significance of this phenomenon is that it’s occurred even as oil prices plummet. According to the Texas Quarterly Housing Report from the Texas Association of Realtors, single-family home sales increased 4.7 percent statewide in Q2 compared to 2014, and home prices in Houston rose by 6.8 percent for the same time period. As this Houston Chronicle article points out, July home sales in Houston are up by 6.7 percent year over year, and demand is outpacing supply.

“It would seem that the metros in Texas have enjoyed protection from some of the economic realities that hinder new home sales—and we have certainly experienced the demand and excitement at Surge Homes,” said Louis Conrad, partner at Surge Homes. “Home sales in Houston show no sign of slowing down, as evidenced by many real estate reports. To help meet the demand, we are currently selling move-in-ready new condos at two of our sites, and have a list of buyers for new homes at the rest of our sites, all of which are located in the Inner Loop.”

Learn more about Surge Homes and see all of the new home designs for new single-family homes, new townhomes, and new condos at SurgeHomes.com.

ABOUT SURGE HOMES

Surge Homes Development LLC (Surge Homes) is a residential real estate developer and builder. The company is owned by partners Louis Conrad and Ben Lemieux, who each have 25 years of experience in real estate. Conrad and Lemieux have worked together on various single-family home and condominium communities in Montreal, Canada, as well as in Houston. Learn more about Surge Homes on its website and contact the company for more information.

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Katie Smith
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