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June 2021 Market Report

Lubbock MLS numbers for June 2021 reflected 1.1 Months of Inventory, boosted significantly by 2.2 Months of Inventory in newly constructed homes (tongue firmly in cheek on the “boosted significantly”). Both existing home sales and new home sales are far from the “...

May 2021 Market Report

The second chart at this link is a both a bit dated (it’s from late April) and evergreen. I keep thinking about it. It follows a 20-year period (so don’t get too tied up in its implications on today’s inflation.) But compare the ratio of red-and-orange (houses und...

April 2021 Market Report

The latest NAR headline is Virtually Every Metro Area Experienced Home Prices Rise in First Quarter of 2021. The story is a mighty reflection on supply and demand. Almost every metro area tracked showed a YoY price increase, most with double-digit increases.

March 2021 Market Report

Rather than more statistics, here’s an anecdote that hits the same themes we’ve discussed recently. I’m sitting in the bleachers at a little league game. The younger couple next to me is discussing their own efforts, and the efforts of their parents, to find house...

February 2021 Market Report

Odd times show up in odd ways. We are currently in a moment where podcasts are doing stories about people strapping on sandwi...

January 2021 Market Report

On several fronts, the housing market has been unusual through 2020. We’ve discussed Months-of-Inventory, which remain very low, and building permits. We’ve discussed the effect of historically low interest rates for home mortgages. Look at the daily legal filings a...

December 2020 Market Report

I talk a lot about inventory, Months-of-Inventory, and the like, but it is historically low. There are

November 2020 Market Report

Looking at November 2020 MLS reports, we see a continuing seasonal trend of lower inventory and sales. We also see a continuation of the non-seasonal, 2020-special overall reduction of inventory. Ending in November, we sat at 732 units of inventory (versus 778 in Octobe...

October 2020 Market Report

It’s not too early to wish 2020 was over, is it? Let’s stay away from the news and look at a projection for next year. Nationally, we are on pace for 820,000 new-home sales in 2020, and total housing starts around 1.36m. This post amalgamates some 2021 projections....

September 2020 Market Snapshot

We all know the real estate maxim of Location, Location, Location. The wider economic corollary may well be Supply, Supply, Supply (or Demand, Demand, Demand – depending on the date.) The national trend is a Months-Supply-of-Inventory pegged well below the balanced nu...

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