Real Estate
Sponsored by

March Housing Data Across Texas

8,455 Views | 71 Replies | Last: 2 yr ago by itsyourboypookie
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:23a, 4/15/21
Sponsor
AG
Houston

https://www.har.com/content/newsroom

Quote:
Homes priced between $500,000 and $750,000 led the way in sales volume in March with a 96.8 percent year-over-year surge. That was followed by the luxury segment ($750,000 and above), which soared 89.9 percent. With high-end home shopping dominating the market, pricing was pushed to historic highs. The single-family home average price climbed 19.9 percent to $370,847 and the median price increased 16.0 percent to $290,000.


Quote:
A 5.8 percent year-over-year decline in new listings combined with another strong month of sales drove single-family homes inventory down to a 1.4-months supply compared to 3.4 months a year earlier. That is the lowest inventory level of all time. Housing inventory nationally stands at a 2.0-months supply, according to the National Association of Realtors (NAR).


Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
1
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:33a, 4/15/21
Sponsor
AG
Dallas / Fort Worth

https://www.mymetrotex.com/market-reports/
(All tracked counties can be found here)





Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
1
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:49a, 4/15/21
Sponsor
AG
Nationwide info

https://www.wsj.com/articles/u-s-housing-market-is-nearly-4-million-homes-short-of-buyer-demand-11618484400
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
1
PeekingDuck
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:18a, 4/15/21
AG
This will not end well.
Reply Quote
6
jagvocate
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:47a, 4/15/21
AG
* Cheap money leads to dumb decisions
* Each bubble is unique in their own way, but it's never truly "different this time"
* If you're an investor, get your cash ready for 2023

Reply Quote
7
Maximus Johnson
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to jagvocate • 10:25a, 4/15/21
AG
jagvocate said:
* Cheap money leads to dumb decisions
* Each bubble is unique in their own way, but it's never truly "different this time"
* If you're an investor, get your cash ready for 2023
Are you referring to people buying more than they can afford?
Reply Quote
1
AgProgrammer
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:30a, 4/15/21
AG
There's a big mess on the horizon. Houses are priced at way higher than they're actually worth right now which then leads people to purchasing outside of their means. Bottom falls out, people are underwater on their houses, etc etc. We've seen this before.
Reply Quote
3
1 edit
Maximus Johnson
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:43a, 4/15/21
AG
How can that happen with the appraisal (especially an FHA loan)?

You would think the lenders would be smarter but I guess not. I am under contract for a home that I know I am paying too much for, but it is well within our means. Total mortgage, PMI, insurance & taxes are less than 25% of gross.
Reply Quote
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Maximus Johnson • 12:26p, 4/15/21
Sponsor
AG
All it takes is a couple of Californians to pay cash and set the market.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
14
Yesterday
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Red Pear Realty • 1:09p, 4/15/21
AG
Red Pear Realty said:
All it takes is a couple of Californians to pay cash and set the market.
I can't throw a rock and not hit a Californian here in Southlake or Keller. To their credit most admitted they wanted out of California due to covid and politics.
Reply Quote
1
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:21p, 4/15/21
Sponsor
AG
I just (less than 5 minutes ago) lost my third offer in a row for a client looking in the Heights in Houston. Client is not looking for a starter home (so let's call it $500-$1M range). This last one, we bid 14% over ask, and the high bidder offered something larger, and..... all cash.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
10
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:34p, 4/15/21
Sponsor
AG
Tyler average pricing PSF up 23.8% and months inventory down 80%, both year over year.

https://dds.terradatum.com/public/market-area-trends/greater-tyler-association-of-realtors/MTEvMjE=/?search=normal&areaType=ALL&areaValueList=&timePeriod=mth&timePeriodValue=37&propertyClassList=ALL&search_enable_flag=MQ==




Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:35p, 4/15/21
Sponsor
AG
Bryan-College Station

https://www.bcsrealtor.com/index.php?submenu=areaHousingStatistics&src=gendocs&ref=AreaHousingStatistics&category=forConsumers



Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:39p, 4/15/21
Sponsor
AG
Austin

0.4 months of inventory for the entire MSA. Running out of adjectives here.

https://www.abor.com/news-center/market-stats



Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
1
SteveBott
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:48p, 4/15/21
AG
Geebus these inventory numbers.
Reply Quote
3
Macarthur
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
4:10p, 4/15/21
Got one of those for SA? Mine goes active next weekend.
Reply Quote
Red Pear Realty
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Macarthur • 4:55p, 4/15/21
Sponsor
AG
https://member.sabor.com/wp-content/uploads/2021/04/March-Market-Report.pdf
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Reply Quote
94chem
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
4:59p, 4/15/21
College, energy, eating out, real estate... Nope. No inflation at all.
94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough
Reply Quote
13
txcincinnatus
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
5:41p, 4/15/21
AG
Assume year over year stats will be a little distorted now that early covid months are coming into play? We're starting to look at homes in the heights as we plan to buy late summer / early fall and the good ones seem to go in just a few days. Crazy competitive out there...
Reply Quote
1
ClassicAg18
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:41p, 4/15/21
AG
Gosh I started looking for a house in January and am about to go under contract for a new build and I look back to just JANUARY and think wow the market is even CRAZIER now than it was then!
Reply Quote
Rice and Fries
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to SteveBott • 4:25a, 4/16/21
SteveBott said:
Geebus these inventory numbers.


Doesn't help when you have Elon tweeting that Austin rocks with emojis and Joe Rogan actively pushing for people to move to Austin
Reply Quote
1
Rice and Fries
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to ClassicAg18 • 4:29a, 4/16/21
ClassicAg18 said:
Gosh I started looking for a house in January and am about to go under contract for a new build and I look back to just JANUARY and think wow the market is even CRAZIER now than it was then!


We signed for a new build in January and locked in price, since then the base price for our model has risen $65K if we were to sign today. But there's now a 180 person/family wait list for the community. It's truly insane.
Reply Quote
The Fife
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:42a, 4/16/21
How on earth do you guys afford property taxes over there? Are they also 150%+ what they were 10 years ago?
Reply Quote
2
ClassicAg18
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Rice and Fries • 7:11a, 4/16/21
AG
Rice and Fries said:
ClassicAg18 said:
Gosh I started looking for a house in January and am about to go under contract for a new build and I look back to just JANUARY and think wow the market is even CRAZIER now than it was then!


We signed for a new build in January and locked in price, since then the base price for our model has risen $65K if we were to sign today. But there's now a 180 person/family wait list for the community. It's truly insane.


Very similar situation with me as well! Right after I signed up to do the new build, which starts in May, I heard from the builder that they had 50+ people in the office one Saturday and cars were lining the streets like crazy. Thank goodness I signed up when I did....doubt I would be able to start my house till August or September if I didn't
Reply Quote
Alex Bregman
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
7:40a, 4/16/21
AG
Where the hell is everyone coming from? Man, this is crazy.
Reply Quote
11
The Fife
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:09a, 4/16/21
I'd like to come back but don't think I could afford the same kind of house, schools, and location that I have now.
Reply Quote
one MEEN Ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:10a, 4/16/21
AG
Please don't show this thread to any appraisal district review board.
Reply Quote
12
one MEEN Ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Alex Bregman • 9:11a, 4/16/21
AG
Alex Bregman said:
Where the hell is everyone coming from? Man, this is crazy.
Bregman's asking the good questions.

If single family homes are the 'winners', where are the losers? This clearly can't all be apartment dwellers finally pulling together 20% down.

Reply Quote
2
Alex Bregman
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to one MEEN Ag • 9:17a, 4/16/21
AG
one MEEN Ag said:
Alex Bregman said:
Where the hell is everyone coming from? Man, this is crazy.
Bregman's asking the good questions.

If single family homes are the 'winners', where are the losers? This clearly can't all be apartment dwellers finally pulling together 20% down.

Their 20% number would be quite a bit higher now too.
Reply Quote
2
ClassicAg18
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Alex Bregman • 9:35a, 4/16/21
AG
Alex Bregman said:
one MEEN Ag said:
Alex Bregman said:
Where the hell is everyone coming from? Man, this is crazy.
Bregman's asking the good questions.

If single family homes are the 'winners', where are the losers? This clearly can't all be apartment dwellers finally pulling together 20% down.

Their 20% number would be quite a bit higher now too.


I've kept asking myself this question and I think the demand is due to....

Low interest rates
People moving to Texas from out of state
People coming off of the best 4 years before covid hit so they have cash to buy
Investors buying up single family homes that are empty and then renting them the second they close
People moving out of city areas to the suburbs because of covid

I also think the demand is worse because no one is still going into work. Seriously if people were forced to go back into the office they wouldn't be able to have as much time to go do showings at 2:30PM during the week when they should actually be at work.
Reply Quote
3
Rice and Fries
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to ClassicAg18 • 9:37a, 4/16/21
ClassicAg18 said:
Alex Bregman said:
one MEEN Ag said:
Alex Bregman said:
Where the hell is everyone coming from? Man, this is crazy.
Bregman's asking the good questions.

If single family homes are the 'winners', where are the losers? This clearly can't all be apartment dwellers finally pulling together 20% down.

Their 20% number would be quite a bit higher now too.


I've kept asking myself this question and I think the demand is due to....

Low interest rates
People moving to Texas from out of state
People coming off of the best 4 years before covid hit so they have cash to buy
Investors buying up single family homes that are empty and then renting them the second they close
People moving out of city areas to the suburbs because of covid

I also think the demand is worse because no one is still going into work. Seriously if people were forced to go back into the office they wouldn't be able to have as much time to go do showings at 2:30PM during the week when they should actually be at work.
I think there's also an element of FOMO as well.
Reply Quote
7
Scientific
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Maximus Johnson • 10:01a, 4/16/21
AG
Shallowminded14 said:
Are you referring to people buying more than they can afford?
I think it's more to do with big money and current assets. Big money is acting like a heroine addict.

With lending being so tight today, I don't think that's true for most single family home buyers. Current buyers are jumping in because they can. The average buyer still has a great credit score, and they can afford the payment. But that's the problem with low rates, its that they can afford the monthly payment on these high prices. This inverse relationship between prices and rates, is more to do with the risk of exposure if and when a correction comes.

But yikes, those prices in Austin has all but guaranteed the fate of the locals there.
Reply Quote
2 edits
Maximus Johnson
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Scientific • 10:12a, 4/16/21
AG
Scientific said:
Shallowminded14 said:
Are you referring to people buying more than they can afford?

I think it's more to do with big money and current assets. Big money is acting like a heroine addict.

With lending being so tight today, I don't think that's true for singe home buyers. Current buyers are jumping because they can. The average buyer still has a great credit score, and they can afford the payment. But that's the problem with low rates, is that they can afford the monthly payment on these high prices. This inverse relationship between prices and rates, is more to do with the risk of exposure if and when a correction comes.

But yikes, those prices in Austin has all but guaranteed the fate of the locals there.
Okay lets take my contract that I am in right now for example and tell me if I screwed up:

- Was in the market and had been for awhile. I was ready to buy regardless of interest rates
- Interest rates provided with incentive to buy a little more than originally budgeted (2.75%)
- Bought a brand new home on .5 acre in a small town in Texas (not directly influenced by large cities)
- Paying 280K for my first home. 1,500 sf new build on 1/2 and acre as mentioned.
- Worried about appraisal coming back low and not having the cash to cover the deal

Did I jump too soon and should have saved more? We are putting 5% down on an FHA loan that I plan to refi to conventional in a few years or when rates drop again. All in monthly on the home is about 25% of our take-home pay
Reply Quote
C1NRB
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Red Pear Realty • 12:02p, 4/16/21
AG
Any data for Midland/Odessa?
Reply Quote
94chem
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to one MEEN Ag • 1:54p, 4/16/21
one MEEN Ag said:
Alex Bregman said:
Where the hell is everyone coming from? Man, this is crazy.
Bregman's asking the good questions.

If single family homes are the 'winners', where are the losers? This clearly can't all be apartment dwellers finally pulling together 20% down.



You pump $5 trillion or so of Xerox Confederate scrip into the economy, plus the multiplier effect which has led to a S&P P/E ratio of 40, and a lot of middle class people are making bank. It's created a frenzy of real estate appreciation, but most people aren't even having to take profits to upgrade. Because interest rates remain so low, they're letting the stocks ride and just borrowing money. Meanwhile at the lower end of the market, investors are scooping up the houses for rental properties. I don't think there are losers in real estate...except that we're all gonna be losers because wages won't keep up with property taxes, upkeep, and inflation. Eventually people will have to convert their paper gains to cash, causing the market to drop, and finding out their money isn't worth that much. At the end of the day, regardless of how and when my predictions come true, long-term real estate debt at 2.75% is a good safe haven. My 2 cents.
94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough
Reply Quote
3
Last Page
Page 1 of 3 ▼
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.