For comparison, June 2019 showed an Average Sold Price of $204k and a Median Sold Price of $170k. This was with June 2019 MOI at a still-tight 2.4. This year, Average Sold Price rose to $221k; Median Sold Price rose to $189k. Is that rise related to Luxury numbers?...

What effects about re-opening can we tease from the local data? A look at preliminary MLS data for May showed a 19.7% decline YoY in units for sale (935 vs. 1164), and a 27.8% YoY decrease in May sales (397 vs. 550). However! Homes placed under contract in May 2020...

Very strange times. Anecdotal evidence is that, despite very low rates, mortgage applications for purchases or refis are contracting a bit in light of underwriting scrutiny of borrower income. Recent paychecks are a must. MLS date through the end of March showed an...

We know this quarantine is tough. We are open and servicing our customers to the best of our ability, consistent with efforts to keep our staff safe. We have instituted several steps in this regard and encourage you to refer to this statement. Our Mover’s Moving...

Since February 2020 now feels like years ago and miles away, I will keep it short. First, the Secretary of the Treasury gave guidance that title companies are part of the Essential Critical Infrastructure Workers category. As such, we are trying to protect our staff...

Early year predictions: We will continue to experience an existing home inventory constriction through 2020. We will experience an upsurge in subdivision plats in advance of the City’s adoption of an Impact Fee system. We will see moderate residential refinance...

What do we know about the general trend of housing to close out 2019? In a tweet thread Nobel-laureate economist and NYT commentator Paul Krugman takes on an argument that housing price gains relates primarily to low mortgage rates. He points out a basic economic...

I struggled with an approach to this month’s blog. Economic news is getting swallowed up by politics, and that is not likely to abate with the election season coming on. So I was happy to have home builders come to the rescue! Cutting through the noise, the National...

In one signal, the national housing market showed a continued trend of moderate YoY improvement. See this article noting a 3.2% increase in the Case-Schiller National Home Price Index; a similar increase to the prior month numbers. But note the gathering clouds? Black...

Apologies for the tardiness of the August report. We’ve been doing some under-the-hood work. To make it up to you, I’m including Movers Moving Indexes for August AND September. Looking to Year-Over-Year MLS data for Lubbock, in September 2019 we saw a 17.7% decrease...