July 2, 2024 | Driving It Home with ABoR's Housing Economist

In this episode of Driving It Home, Dr. Clare Knapp and Emily Chenevert reflect on last week’s Market Shift Conversations program featuring special guest, Marki Lemons-Ryhal. They highlight the new Buyer’s Agent Portfolio released during the event that includes research on Austin's demographics and leasing, plus a mid-year review and a Buy vs. Rent Index Addendum.   Dr. Clare Knapp provides insights into the housing market for the second half of 2024, predicting mortgage rates to remain in the mid to high 6 percent range. She notes a balanced market with substantial inventory but relatively stagnant sales activity. Sellers are encouraged to negotiate with buyers to facilitate transactions, as many buyers are unwilling to pay the original list price. June housing stats are anticipated to show a significant decline in sales, with prices remaining flat and active listings increasing.   The conversation also touches on the labor market, which is experiencing a slowdown in job growth. This trend is expected to impact the housing market as employment changes affect household demographics and homeownership status. Despite the challenges, both Emily and Dr. Knapp emphasize the importance of realistic pricing and the need for sellers and buyers to find common ground to close deals. The podcast concludes with a reminder to stay informed and adapt to market trends for continued success in the real estate industry.   Download an episode transcript here: https://www.abor.com/content/uploads/2024/07/DIH-7-2-24.pdf   Links Mentioned ABoR Research - https://www.abor.com/research Buyer’s Agent Portfolio - https://www.abor.com/content/uploads/2024/06/2024-Buyers-Agent-portfolio-ABoR-Unlock-MLS.pdf   Listen On: Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732 YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC  Connect with us on socials: https://www.abor.com/socials Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey  Have feedback? Email us at [email protected].