Houston

First, anecdotally, roughly half of my December buy side clients were from out of state. Two clients from CA and one from CO. It was not easy representing the buy side this winter season. A lot of folks are looking for homes in Texas, and it seems like this Spring could have a continuation of supply problems that we have seen for the last 24 months or so.

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The second year of a global pandemic, dwindling inventory, building supply and labor shortages that slowed home construction, and rising home prices could not prevent the Houston real estate market from turning 2021 into a record year. Consumers never eased up on their demand to buy or rent homes and paid more for them as the supply of housing grew smaller. Single-family home sales surpassed 2020's record volume by more than 10 percent, and total dollar volume soared more than 28 percent to a record $40 billion.

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Quote:

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According to HAR's December/Full-Year 2021 Housing Market Update, single-family home sales for 2021 rose 10.3 percent to 106,229. Sales of all property types for the year totaled 131,041, up 13.3-percent from 2020's record volume and only the third time in history that total property sales surpassed the 100,000 level. Total dollar volume for 2021 shot up 28.2 percent to a record-breaking $40 billion.

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https://www.har.com/content/newsroom?pid=1818

Inflation

https://www.cnbc.com/2022/01/12/cpi-december-2021-.html

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Inflation rises 7% over the past year, highest since 1982

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(sidenote...the Fed changed the way they calculate inflation in January, so these numbers would have been higher using historical methodology).

Austin

I've given up on Austin and San Antonio posting their data with the other MLS's, so I'm going to start posting their latest month's data here instead of bumping old threads.

Austin continues to be HOT. More tech jobs are on the way, a new high rise offce/residential tower was announced this week with Meta/Facebook signing for all 400k SF of office space.



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

Bryan - College Station

****College Station with 0.4 months of inventory.****

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

Greater Tyler

• Supply continuing its march downward.
• Spring should be interesting...

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==

Do you have this data for Rockwall county?

I35 corridor is going to be hot from SA to DFW. The wife has been contacted by 3 different buyers from Illinois wanting the hell outta that place.

Robert C. Christian said:

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Do you have this data for Rockwall county?

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Hi Robert!

See below for Rockwall data. Let me know what else you need.

https://www.nationalreview.com/corner/u-haul-literally-ran-out-of-trucks-leaving-california/

Foreclosures about to start ramping up. I'd expect the March sale to be when the floodgates start opening.

hbc07 said:

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Foreclosures about to start ramping up. I'd expect the March sale to be when the floodgates start opening.

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Why is that?

CS78 said:

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hbc07 said:

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Foreclosures about to start ramping up. I'd expect the March sale to be when the floodgates start opening.

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Why is that?

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All moratorium restrictions have been lifted. Based on incoming referrals MTD, we're expecting to see 2x pre-covid numbers for the month, which will first start hitting the March sale. I'd expect February referrals to be even higher.

hbc07 said:

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CS78 said:

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hbc07 said:

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Foreclosures about to start ramping up. I'd expect the March sale to be when the floodgates start opening.

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Why is that?

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All moratorium restrictions have been lifted. Based on incoming referrals MTD, we're expecting to see 2x pre-covid numbers for the month, which will first start hitting the March sale. I'd expect February referrals to be even higher.

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Given the price movement in the market, why wouldn't these people sell instead of handing it back over to the bank? I'm an amateur so excuse me if this is a stupid question.

ContinentalAg said:

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hbc07 said:

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CS78 said:

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hbc07 said:

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Foreclosures about to start ramping up. I'd expect the March sale to be when the floodgates start opening.

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Why is that?

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All moratorium restrictions have been lifted. Based on incoming referrals MTD, we're expecting to see 2x pre-covid numbers for the month, which will first start hitting the March sale. I'd expect February referrals to be even higher.

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Given the price movement in the market, why wouldn't these people sell instead of handing it back over to the bank? I'm an amateur so excuse me if this is a stupid question.

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To be honest, I have no idea. I'm sure there's some psychological term to describe it, but it just seems like once most people get behind they just give up even if there are viable alternatives.

I subscribe to Opendoor just for entertainment on their offers. Greatness.