From Reno to Realtor

Top Realtor shares insights about H-Town's hot real estate market

Realtor Richard Ray likes to help people. He sees it as a basic human urge and the opportunity to problem solve, and it's been the main inspiration in his career.

"A lot of people who entrust us to sell their home are handing us their largest asset, so it's important that we do right by them," he says. "As a buyer, they are trusting us to get them a good deal on the place where they are going to spend the next few years of their life. I take both sides very seriously."

Finding your passion
Richard's previous career was in accounting, but his heart lead him to real estate and he became a licensed Realtor in 2004.

He also has previous experience buying and renovating homes in Houston and Dallas, which set him up for success by forging several valuable relationships with contractors, lenders, and other professionals whom he now works with often.

While accounting required sitting for hours behind a desk, real estate gives Richard the opportunity to meet buyers and sellers from all walks of life while constantly being on the move.

"Real estate is a physical job," he says. "Putting out open house signs, showing multilevel homes, going up and down stairs — it's important to stay as fit as I can."

You might spot Richard riding his bike on Houston's many trails — outdoors in the fresh air is one of his favorite places to be — or hitting the gym before the sun comes up.

A few favorite spots include Levy Park and Memorial Park, both places where Richard likes to take his Papipom (Papillon-Pomeranian mix) and constant companion, Billy Ray.

Houston real estate right now
Richard says it's been a slow start to the spring season, mainly due to an ongoing shortage of for-sale homes. That's a great position to be in as a seller, but things are actually looking up for buyers.

"Even though inventory is low, you don't have to pay way above list price and be one of 10-15 potential buyers like you did two years ago," he says. "You may not have all the time and choices you want, but the market is much more balanced now. However, if you find a house that you like that is priced well, someone else likely does too, so you should quickly put an offer on it."

And that slow start likely won't last long. Summer has long been the most popular time to move due to school schedules and nice weather, but that boom actually begins in the spring.

"Spring is for looking and summer is for closing," laughs Richard. "A lot of people have already made a decision to buy and move by spring break, so if you want to move this summer you should be looking right now."

Many homes don't even make it to their open-house weekend, Richard says. Eager buyers will try to get in before the masses do and make an offer, since an open house all but guarantees serious interest these days.

Luckily, Texas — and especially Houston — has proven almost immune from major price swings that plague other markets. That means real estate holds its value especially well here, and is still a sound investment.

"As we get more into late spring and early summer, we anticipate more homes coming on the market, and that's what we really need right now," says Richard. "Sellers trying to 'move up' are having a hard time finding what they want so they often stay put, which in turn makes it harder for first-time buyers who are trying to get in the market. It's a domino effect."

Douglas Elliman Real Estate
While working at another Houston brokerage, Richard was consistently ranked in the top five agents. Now he's with Douglas Elliman Real Estate, where he is currently ranked in the top eight percent of all Douglas Elliman agents nationally.

Founded in 1911 and one of the largest independent residential real estate brokerages in the U.S., Douglas Elliman has approximately 6,900 agents and 120 offices in key markets.

In addition to local expertise, Douglas Elliman Real Estate has nationwide reach. Richard has connections with other agents around the nation, an asset to his clients who may be looking for a second home.

Douglas Elliman Real Estate has an exclusive partnership with Knight Frank, a large residential brokerage in Europe with 487 offices in 53 countries. Listings over $1 million are marketed worldwide, creating an international presence.

Richard primarily sells properties inside the loop as well as in Tanglewood, Galveston, and beyond. For more information, follow him on Instagram @RichardRayTheRealtor and Facebook, or call/text him at 713-416–3931.

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Photo courtesy of Douglas Elliman Real Estate

Realtor Richard Ray.

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THE AMERICAN DREAM

How long it takes to save for a home down payment in Houston

iStock

Houstonians don't have to save long to afford a down payment.

Saving for a down payment remains one of the biggest barriers to homeownership nationwide, but a new report from Realtor.com shows San Antonio area buyers face a far shorter wait than most Americans.

According to the real estate site’s 2025 analysis, the typical U.S. household needs seven years to save for a standard down payment, a notable improvement from the 12-year peak in 2022. Still, the timeline remains roughly double the pre-pandemic norm, reflecting higher home prices, larger down payments, and lower household savings rates.

Houston, however, stood out as one of the most accessible major metros in the nation. The Houston-Pasadena-The Woodlands metro boasted one of the shortest time sto save for a down payment among the nation’s 50 largest markets, with households needing just 3.5 years to reach a typical down payment, according to the study.

The report found that Houston’s median down payment from January through November was $14,927. A median household income of $83,452 was estimated to produce an annual savings of $4,228. Notably, San Antonio, the only other Texas city included in the report, had the shortest time to save for a down payment at just 1.3 years.

Nationally, the time needed to save has shortened as home price growth cooled and affordability modestly improved. Still, saving for a down payment takes significantly longer than it did before the pandemic.

“Higher home prices and intensified competition have pushed typical down payments higher, at the same time that inflation and rising household expenses have reduced savings rates,” said Danielle Hale, chief economist at Realtor.com, in a release. “Although conditions have improved since 2022, today’s timeline shows that saving for a home takes meaningfully longer than it did before the pandemic, especially in high-cost markets.”

Lower savings rates have played a key role. The U.S. personal savings rate has averaged 5.1 percent of income so far in 2025, down from the pre-pandemic norm of 6.5 percent, limiting how quickly households can build funds for upfront housing costs. Meanwhile, the typical down payment has more than doubled over the past six years — rising from about $13,900 in the third quarter of 2019 to $30,400 in the third quarter of 2025.

In high-cost coastal metros, the impact is far more severe. Saving for a down payment can take 20 to more than 35 years in California cities like San Francisco, San Jose, Los Angeles, and San Diego, effectively sidelining many first-time and moderate-income buyers.

“In high-cost markets, the typical down payment alone exceeds a full year of household income,” said Hannah Jones, Realtor.com senior economic research analyst. “That reality makes homeownership feel unattainable for many buyers, particularly younger households trying to enter the market for the first time.”

Despite those challenges, the report notes that roughly three-quarters of Americans still consider homeownership part of the American dream. Realtor.com says easing rents could help first-time buyers save more, while repeat buyers may use accumulated savings to reduce loan balances and manage higher monthly payments.

“Saving consistently, even in small amounts, is a meaningful first step toward homeownership,” Jones said. “In today’s market, building that financial cushion can make a real difference when buyers are ready to act.”

home market economy down payments home ownership real estate