April 16, 2024 | Driving It Home with ABoR's Housing Economist

In this episode Driving It Home, Dr. Clare Losey and ABoR Deputy Director of Communications Danielle Hammett focus on analyzing the March Housing Market Report. Despite sustained elevated mortgage rates, home sales and median sales prices have remained relatively flat. There's a noticeable division in the market, with increased activity seen in both the lowest-priced homes (under $300,000) and the highest-priced homes (at least $1,000,000), while homes in the mid-price range ($400,000 to $750,000) have experienced a significant pullback in closed sales.   The market presents more opportunities for first-time buyers seeking affordable options, with a significant uptick in new listings for homes under $300,000. This trend is particularly evident in cities like Buda, Hutto, Kyle, Manor, and Taylor, where sales have increased year-over-year. Meanwhile, luxury buyers are driving sales in higher-priced segments, particularly in areas like Austin.   Looking ahead, the housing market is expected to maintain stability, with mortgage rates likely to remain elevated, providing certainty for both buyers and sellers. Despite the challenges posed by these conditions, the market is perceived to be less volatile, offering a more stable environment for buyers and sellers alike. The podcast ends with a preview of next week's episode, which will delve into new research on the impact of minimum lot sizes on housing affordability.   New Research Report: The Impact of Minimum Lot Sizes on Housing Affordability https://www.abor.com/research March 2024 Market Statistics https://www.abor.com/marketstatistics Tickets for the 2023 ABoR Industry Awards Fire & Ice Gala https://www.abor.com/celebrate Free ABJ Subscription: https://www.abor.com/ABJ Meet the Industry Awards Finalists https://www.abor.com/awards Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732  YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC   Download the Audio Transcript + Episode Summary: https://www.abor.com/content/uploads/2024/03/DIH-3-26-24.pdf Connect with us on socials: https://www.abor.com/socials  Connect with Dr. Clare Losey on LinkedIn: https://www.linkedin.com/in/clare-losey   Have feedback? Email us at [email protected].