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Thanks for your comment! I agree, prices are high and are expected to go higher in 2025 and beyond. Perhaps this can give you some hope: the data and multiple sources presented in the video indicate a rate drop in 2025. In fact, interest rates have started to decrease this month, and buyers can currently obtain a rate as low as 4.5% with zero points when purchasing a new home. It all depends on the lender, area, and builder you choose. If you'd like to know where the lower rates are located then let us know, I'm happy to share the information!

Welcome back! Thank you for this positive feedback!

Hi Anna! We can't believe we missed responding to your video comment. The charts at the start of this video are national and the data summary is specific to Austin. Check out the video for June, we have surprising and good news for the Austin housing market.

Hi Mark! Thanks for watching. We compare the local data against pre-pandemic numbers to inform us what's normal as the past 2 years were outliers. If you have a specific question about a data point then I'm happy to answer it for you.

Thanks for the comment and I'm glad you enjoyed the video! Wait for Nov. 16th as we expect the FED to announce rate hikes again.

Hi Xiang! It looks like SFH sales landed at 2,259. Compared to pre-pandemic, SFH is down by 85 deals or 3.6%. We aren't that far off from normal. I posted this months video: ua-cam.com/video/wREROVrkSTo/v-deo.html

Hi Noah! Thanks for the comment.

Hi Joyjit, I've not seen data to support a 35% to 40% price drop. In the last six recessions, there have only been two times home values depreciated. Out of those two periods of time, we saw a large % drop and that was in 2008. It's highly improbable to see this occur again. It's more likely we will see a slight reduction in price for 2023 and begin to increase in mid-2024. Many factors are in play.

Hi @@Brendansanfordrealtor, i wish for the same. but, honestly my data indicates this time the recession could be the same as 2008 or even worst. Also, I believe it will happen a lot faster than in 2008. but I agree with one point of yours that from mid-2024 things will mostly get normal. Let's see what happens. lots of uncertainties. lot many factors can impact US economy and as well as global economy very rapidly. Believe me, I wish nothing goes wrong and people don't suffer. but in the last 5 months, the Price dropped more than speculated. I sold my home in March and got heavy benefits and moved to an Apartment. I will purchase the home again when it goes bottom. and so far all my prediction is right. we will circle back after 6 to 8 months. hope I will be wrong.

Hi Z! I appreciate your comment and thank you for watching. You're 100% right, that program doesn't buy the property and it is a Realtor who can sell the property. I can't speak to the commission part because that's different in each city/state, but the major difference with this program is the way the home is marketed vs. traditional realtor marketing. That successful marketing is what gets homeowners a higher profit in the end. There are programs that will buy your home for cash and that's not 72sold. If you need a cash program, google "Keller Offers". You can get a preliminary cash offer, then a realtor will visit the home in person to confirm the information you submit. All-cash programs are the more convenient way to go to avoid showings, make-ready costs, etc. But I'll be real with you, any "cash offer and close quickly" program tends to not give you the most money for your home. On the other hand, if you need your home to be renovated, but you're short on cash, then there are programs that will renovate your home with no up-front costs. You would only pay once the home has been sold. I have no idea if any of this is helpful, but I thought I'd share options. If you do have more questions, feel free to reply to this comment!

Hi Donna! Thanks for watching. I'm happy to share the US data as a whole. 2005: 533K 2006: 718K 2007: 1.3M 2008: 2.3M 2009: 2.8M 2010: 2.9M 2011: 1.9M 2012: 1.8M 2013: 1.4M 2014: 1.1M 2015: 1.1M 2016: 933K 2017: 677K 2018: 624K 2019: 493K 2020: 214K 2021: 151K Overall, we have an all-time low foreclosure activity nation wide.

@@Brendansanfordrealtor W O W. the numbers are way down nationally. i recently read that the Dallas and Houston markets are seeing increases, but due to foreclosure filings that were halted just before the pandemic. 😄 thank you so much for the comprehensive info!

You're welcome! Yes, we do anticipate foreclosures to increase slightly over the next 12 months. When that happens the news may blow it out of proportion. Feel free to reach out if you have any additional questions. Side note: we just received a huge data dump of market information, both national and specific to Texas. I need to finish analyzing the information then I intend to finish the video in the next two weeks. If you like the information I gave in this video then you'll really like what I'm going to discuss.

Hi Mohammad! Thanks for your comment, however, there's no market correction ahead for Austin, Texas. All data trends and factors point in a very positive direction for this City. This is not an opinion; this is all based on data. I'd recommend checking out our newest video ua-cam.com/video/LNVkmbpz_l0/v-deo.html.

Hi John! Thanks for watching.

@@Brendansanfordrealtor It's good information :)

This makes me want to sell, cash out & run!!!!!!!

Hi Kyle, great question! This is what we do know, Appraisers review the last 90 days of sold data to provide their opinion of Market value. It’s officially been 90 days since Austin has seen most offers go 20-30% over list price so this data can now be used to increase their opinion of value. At the end of November 2020, we saw the percentage over asking start to increase from 5% to 10%-18%, then it moved up each week after that. It’s not until this last 4 weeks did we see the average 25%-26% “over list price” stay consistent. That tells me we may have hit a ceiling. Now, do we see appraisals catching up with recent data, yes. Has it kept up with the consistent % increase, no. We’ve also seen fewer offers on properties in the $400K-$800K price point over the last two weeks. Instead of 10+ offers, we are now getting 2-3 on average. We've confirmed this with over two dozen realtors. Meaning what exactly....buyer fatigue? Limited supply of people with cash to spend? Fear an offer won't be accepted? I don’t know. For the $250K-$400K price points we are still getting an average of 10+ offers so this will likely continue to see appraisal issues for a long time. From everything I can see, this trend is likely to continue for at least another 3 months. At this time I don’t have enough information to see beyond 3 months. Side note: there is one item that is known to change this trend, interest rates. History has shown us an impact in sales when rates hit 4.2%-4.4%. Five different sources says we won’t be anywhere near this within the next 12 months so I don’t think this will help anytime soon.

@@Brendansanfordrealtor Wow, thank you for all that information! Gives me hope things will start to cool down by Summer.

@@TheFlyingSkud You're welcome. Feel free to reach out to me directly if you want to be put on our "notice list". Once a price point starts to shift in favor of a buyer I let him/her know.

Hi Lawrence, thanks for reaching out! This is a packed question. We are seeing more listings and sales than ever before and our months of inventory continues to shrink every month. We have multiple offers on every single listing these past two months. We are seeing an average of 4 offers per 1 listing. It's definitely a strong sellers market in the Austin Metro Area so the Demand outweighs the Supply. We can see this by the real time data coming in each day. We also know a large amount of people are relocating to the Austin Metro Area due to lifestyle and employment. This, along with other factors, tells us the correlation between lower inventory and more buyers. Feel free to reach out should you have any additional questions!

Thanks Zach! COVID hasn't negatively impacted our Market at all. We've only improved in the Austin Metro Area.

You're welcome! I invite you to follow along every 2 weeks as we talk about the market updates!