Federal reserve drops interest rates. What does this mean for the Houston housing market? [Video]

HOUSTON, Texas (KTRK) — Trimmed and decorated from the inside out, Marisa Guzman’s townhome in The Heights was a gift she always wanted to give herself.

“Christmas came early for me. Yes!” Guzman said.

A lifelong renter, Guzman, had hoped to buy the townhome, but with the median cost of Houston homes being just under $340,000, as well as the interest, it made it feel more like a dream than reality.

“Before I purchased the home, I thought even with a good jobs that I like, it would still be a few years. Maybe more than a few years before I was going to be able to afford a house,” Guzman said.

So when she saw a home in the neighborhood she liked at a price point she could afford and a decent interest rate, she couldn’t say no.

“When this came up on the market kind of out of nowhere, I was shocked with the price, area, and location, which is …