Blog

September 2018 Market Report

Permit me a few thoughts on matters well outside the local market – namely tariffs and trade with China. Macroeconomic theory holds that the equilibrium-price between trade partners can be found – and even be relatively stable – despite trade tariffs when the market...

August 2018 Market Report

We will combine national and local observations this month. First, the National Association of Home Builders runs a survey to judge their respondents’ confidence in general market condition. If the confidence scores is above 50, you may assume that there is a general...

July 2018 Market Report

It’s interesting how interconnected our economy is. We measure and watch one part of it hoping for clues as to other parts. Sometimes it feels like science (sometimes it feels like phrenology!) For example, if we posit that we are near “full employment” or have...

June 2018 Supplemental Market Report

A quick update on New Homes listed on Lubbock MLS. At the end of June local builders reported 225 new-construction homes listed. These included: 79 between $200k-300k 75 between $300k-400k 18 between $400k-500k 8 between $500k-600k 0 between $600k-700k 1 between...

June 2018 Market Report

Let’s stay local again this month. Local MLS market data shows a 120 unit increase, to 1385 For Sale Properties in June 2018. That bumps Months of Inventory across the price spectrum to 2.7. June saw 521 homes sold, with an Average Sold Price of $195,000, and a June...

May 2018 Market Report

Some focused, local info in this month’s report. Local MLS market data shows 1265 For Sale Properties in May 2018. That amounts to 2.6 Months of Inventory across the price spectrum. 491 homes sold in May. Average Sold Price was $186,000, with a Median Sales Price of...

April 2018 Market Report

Last month I mentioned the spread between new-home and existing-home inventory. In keeping with that theme, we are starting to see real evidence of producer-inputs becoming more expensive – see here for charts on lumber, concrete, and steel. These costs are a...

March 2018 Market Report

I’ve been waffling a bit on what to highlight in this month’s report. I’ve decided not to decide. So here are four items that caught my eye this month. First, this story and map, show the localization of undersupply of housing in the US market. Generally, the coasts...

February 2018 Market Update

February is a short month. Let’s keep this post short. It’s interesting to note the effect that demographics has on growth. Last month, I pointed to some local information in that regard. This month, let me direct you to this interesting post on national trends and...

January 2018 Market Update

I want to point out some divergent information out there – between the national trends and some local observers. Nationally, we continue to see an undersupply of housing. Look at the charts at the top of the WSJ Daily Shot for January 31 and let the following...