The reports are in for August and it’s not just the temperatures that are hot, hot, hot in Midland-Odessa. The real estate market is ranking among the top performing in the nation.
Realtor.com listed Midland as the No. 8 market in the country—check out their graph below.
They summed up these ten markets:
“This year we are seeing inventory continue to grow in August, and while overall demand is strong, the trend in median days on market is suggesting that the market is finding more of a balance,” concluded [Realtor.com chief economist Jonathan] Smoke. “This bodes well for would-be buyers who have been discouraged by the inability to find a home to buy this spring and summer.”
The recent stock market correction could offer benefits to prospective buyers. “A temporary drop in demand by those negatively affected by stock market instability might be just what strained would-be buyers need to gain the advantage in a market that has given sellers the upper hand so far this year,” said Smoke, adding that postponement by the Fed due to the market correction could extend accessibility of attractively low mortgage rates.