January 21, 2025 | Driving It Home with Unlock MLS' Housing Economist

In this episode of Driving It Home, Dr. Clare Knapp and Emily Chenevert review the December 2024 Central Texas Housing Report and reflect on overall market trends from the past year. They discuss a slight positive shift in the market in December, with closed sales up 2.5% and median prices showing a small increase of 1.5%. They also highlight a slowdown in the growth rate of active listings, with year-over-year inventory gains dropping from 40% mid-year to 10% in December. Dr. Knapp stresses the importance of sellers adjusting their pricing strategies, as the close-to-original-list price ratio averaged just over 92%, indicating room for improvement in setting realistic expectations. The conversation also addresses broader market dynamics, with Dr. Knapp reflecting on 2024 as a year of stability rather than significant growth, marked by an increase in supply that benefited buyers. Despite higher mortgage rates, which recently surpassed 7%, there is optimism about the opportunities this market provides. Both hosts emphasize the importance of leveraging tools like Unlock Stats and other resources to guide sellers toward better pricing decisions, which could lead to more successful transactions. Looking forward to 2025, both remain cautiously optimistic, acknowledging external factors like policy changes and economic fluctuations that could influence market conditions. They encourage real estate professionals to find opportunities in every market and to approach the new year with a mindset of adaptability and growth. The episode concludes with a call for listener feedback and a commitment to providing valuable insights to help navigate the evolving real estate landscape. Links MentionedDecember 2024 Central Texas Housing Report & Year-End Stats | https://www.unlockmls.com/statsMarket Data Labs & Unlock Stats Labs | Jan. 21 | https://www.unlockmls.com/classes-and-events?location&categories&participants.name&format×&searchText=labs&page=1Kick-Off 2025 | Jan. 30 | https://www.unlockmls.com/KickOff2025 Download an episode transcript: https://assets.ctfassets.net/pu0snv8rn9fa/3UiNd7opSwqW2d5Isgr8n7/0d379be57b1eac84a840093a0f1c4559/DIH-1-22-25.pdf Listen On:Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC Connect with us on socials: https://www.unlockmls.com/socialsConnect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey  Have feedback? Email us at [email protected].