July 23, 2024 | Driving It Home with ABoR's Housing Economist

In this episode of Driving It Home, Dr. Clare Knapp and Emily Chenevert discuss the recent mid-year ⁠housing statistics for June⁠, focusing on more detailed granular data. They emphasize the importance of understanding these nuances to better navigate the current housing market and help clients make informed decisions. Dr. Knapp provides insights into the areas within the MSA where home prices have seen the most significant changes, highlighting both the declines near the city center and increases in more distant zip codes. Dr. Knapp also discusses the varying affordability of different zip codes within Travis, Williamson, and Hayes counties, noting that more affordable areas tend to have faster-moving properties due to higher demand from first-time buyers. The conversation shifts to buyer financing methods, where conventional loans dominate, and explores the impact of interest rates on different financing options. Despite higher mortgage rates, alternative financing forms like seller financing remain rare. Finally, the discussion touches on open houses, their frequency, and their effectiveness in different price ranges. The importance of new construction in the market is acknowledged, with builders increasingly using MLS to market their properties due to higher interest rates. The episode concludes with an invitation for listeners to attend the July 23 ⁠Market Data Lab⁠ session with Dr. Knapp to gain deeper insights and discuss market-specific questions.   Download an episode transcript: ⁠https://www.abor.com/content/uploads/2024/07/DIH-7-16-24.pdf⁠ Links Mentioned ⁠June 2024 Central Texas Housing Report⁠ https://www.abor.com/marketstatistics ⁠Market Data Lab with Dr. Knapp – July 23⁠  ⁠https://www.abor.com/class/market-data-lab-6⁠ ⁠2024 International Homebuyers Survey⁠ https://www.abor.com/intlsurvey