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Showing posts from April, 2020

Could the Worst be Over? The Numbers Are Loooookin' Good!

We are tracking the number of homes that are being put “under contract” to get some early indicators as to how buyers are behaving in real-time.   Want to take the pulse of our local housing market?   Look no further than right here! [Quick Data Explanation] The charts below are going to have two bars , one for homes being put “under contract” this year AND one to compare against for last year.   To read this right, you have to know that the average home is sold about 30 days after it’s put “under contract”.   So last year’s sold data was put into date ranges based on this corresponding timeframe to give us an active comparison. Collin County The orange bar  represents how many homes went under contract in 2019 (and eventually sold 30 days later).   The blue bar  shows the number of homes going under contract this year. The hottest segment of the market SHOULD BE the 200k to 300k range, but it’s the only price r...

20 Days into Our New Normal – A COVID Local Housing Impact Report

The national news outlets say a lot of things.   Stats about mo rtgage applications, new home construction starts, housing markets grinding to a halt… BUT WHAT ABOUT US!?    Below, we have buyer activity data from the first 20 days of the COVID-19 pandemic for Collin, Denton and Dallas Counties.   And it’s not all bad news! This data is a follow up from my previous post , where we started carefully tracking the amount of homes that are being put “under contract” to get some early indicators as to how buyers are behaving in this weird time.   If buyers are still out shopping for homes, then values stay high.   If buyers decide to sit this one out, then sellers are going to get desperate, leading to lower sales prices/lower appraisals.   So let’s dive in and figure out what is going on based on the first 20 days... Quick Explanation!   The charts below are going to have two bars, one for homes being put “under contract” this year AND one ...