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October 2022 Market Report

“I suspect you have a feeling in your gut about where we are this month. The MLS data bears that feeling out.  Year over Year, we went from inventory of 665 to 1213 and sales of 493 to 381. That yields a YoY change in Months of Inventory ...

September 2022 Market Report

A few notes from looking through the transaction data this month. First, September was busy month for trustee and sheriff sales. Second, the alternative lenders were busy as well. Third, our Mover’s Moving Index generally slows some in the autumn, but this month’s 2...

August 2022 Market Report

Better, but not good. Or maybe, hard, but not as hard. Both describe the local market according to August 2022 MLS data. We posted 2 months of inventory on 1056 listings and 527 sales. Compare that to 678 listings and 608 sales last year. Ta...

July 2022 Market Report

We are seeing sales volumes slow and price appreciation stall, but not reverse meaningfully, in the Lubbock market. Months of Inventory effectively doubled YoY (1.9 vs. 1) mainly on increased inventory (935 vs. 647) and a relative decrease in sales (746 vs. 780 last yea...

June 2022 Market Report

Inventory is increasing, in MOI terms, largely because of a reduced pace of buying. June YoY numbers of listings went from 583 to 827, while sales went from 669 to 501. That moves MOI from 0.9 to 1.7, YoY. Still, 1.7 is a low inventory number, and it still reflects in p...

May 2022 Market Report

I was asked recently what I thought inflation meant to housing in Lubbock. I’ve talked in the past about the supply constraint, particularly in terms of Months of Inventory. Let me say that I think the recent increase in MOI has as much to do with buyers receding from...

April 2022 Market Report

It feels a little like spelunking without a flashlight. Forge on with uncertainty. The data are mixed. Rates are up, but so are mortgage applications. Prices are high, but volume continues apace. It feels like there’s enough confidence to get us through this season. M...

March 2022 Market Report

Local MLS Data shows that the spring transaction season is on. March 2022 closed with 423 units on the market versus 616 new listings and 494 sold transactions. Closed Sales Months of Inventory was a very low 0.9. There were 551 pending transactions at month’s end. Me...

February 2022 Market Report

Local MLS data for February 2022 continues to support the seller’s market. We are sitting on 1.1 Months-of-Inventory (429 listed, 394 sold). The last time we were even in the shadow of a month that started with a two on MOI was January 2021 (1.8). I had questions abou...

January 2022 Market Report

Allow me a little non-market business. Or at least consider one item not directly related to purchases, sales, and construction. If you care at all about zoning, subdivisions, parking and landscaping in commercial development, please go 

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