Kelea Youngblood, Emily Chenevert, Danielle Hammett, Taylor Smith, and Clare Knapp discuss opportunities and obstacles facing both ABoR and the broader real estate industry. The five detail ways for members to harness ABoR communications, advocacy, and research initiatives to enhance business practices and interactions with clients. A run-down of new member benefits reveals that monthly leasing data will be published alongside sales data for Austin, Houston, and San Antonio starting in February 2025.

In this episode of Driving It Home, Housing Economist Dr. Clare Knapp and Taylor Smith, Deputy Director of Government Affairs, discuss Texas property taxes and their impact on homeowners. Taylor explains the state’s unique tax system, where local governments collect property taxes for schools, roads, and public services. Despite recent $18 billion tax relief measures, including increased homestead exemptions and school tax rate reductions, rising property appraisals—driven by pandemic-era housing market surges—continue to strain homeowners, highlighting affordability as a key issue.

Taylor addresses why property taxes remain high despite declining Austin home prices, citing appraisal lags, steady tax rates due to local budget needs, and voter-approved bonds for community improvements. These factors create a complex challenge, balancing relief for homeowners with funding essential services like schools and public safety.

The episode offers practical advice for managing property taxes, including protesting appraisals, planning for annual increases, and staying engaged in local budget and tax discussions. Listeners are encouraged to join ABoR advocacy efforts, such as workshops and REALTOR® Day at the Capitol, to advocate for meaningful tax reforms and better support Texas homeowners.

Links Mentioned

REALTOR® Day at the Capitol | Mar. 26 https://www.unlockmls.com/event/realtor-day-at-the-texas-capitol
ABoR Advocacy https://www.unlockmls.com/advocacy
Email ABoR Advocacy | [email protected]

Download an episode transcript: https://assets.ctfassets.net/pu0snv8rn9fa/1j60KUfPo8gjrypjKS6yCJ/a51f28d42aed696e8be518508ae084a0/DIH-1-28-25.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.unlockmls.com/socials

Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey 

Have feedback? Email us at [email protected].

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 Mentioned

December 2024 Central Texas Housing Report & Year-End Stats | https://www.unlockmls.com/stats
Market Data Labs & Unlock Stats Labs | Jan. 21 | https://www.unlockmls.com/classes-and-events?location&categories&participants.name&format×&searchText=labs&page=1
Kick-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/id1714289732

YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC 

Connect with us on socials: https://www.unlockmls.com/socials

Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey 

Have feedback? Email us at [email protected].

In this episode of Driving It Home, Dr. Clare Knapp and Kelea Youngblood continue to explore predictions for the Austin housing market in 2025. Dr. Knapp anticipates a relatively flat market, similar to 2023 and 2024, with home prices and sales fluctuating between -5% to 5% year-over-year. This cautious outlook reflects the impact of high mortgage rates, a trepidatious Federal Reserve, and sellers' reluctance to lower listing prices. While national platforms predict a significant sales increase due to Austin's thriving job market, Dr. Knapp cites sluggish job growth in 2024, particularly in the tech and financial sectors, as a limiting factor.

The conversation highlights the interplay between labor market dynamics and housing trends. Dr. Knapp emphasizes the importance of job growth, which has been below historical averages, as a driver for home sales and prices. Layoffs in the tech sector and other interest rate-sensitive industries, combined with high borrowing costs, have softened demand. However, Dr. Knapp remains optimistic about the long-term potential of Austin's economy, suggesting that the current market challenges are temporary.

The podcast also touches on sellers' hesitancy to adjust to market realities. Elevated supply levels and persistent buyer leverage present opportunities for market stabilization, but sellers need to adopt more realistic pricing strategies. The episode concludes with a reminder about upcoming events, including a detailed review of 2024 housing statistics and the 2025 market kickoff, encouraging members to stay informed and engaged.

Links Mentioned

December 2024 Central Texas Housing Report & Year-End Stats | https://www.unlockmls.com/stats
Market Data Labs & Unlock Stats Labs | Jan. 21 | https://www.unlockmls.com/classes-and-events?location&categories&participants.name&format×&searchText=labs&page=1
Kick-Off 2025 | Jan. 30 | https://www.unlockmls.com/KickOff2025

Download an episode transcript: https://assets.ctfassets.net/pu0snv8rn9fa/74u9447sM2Cmp3hj8aXpmL/4eaa798c9a3b599fd1bae7f955ae90c7/DIH-1-14-25.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.unlockmls.com/socials

Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey 

Have feedback? Email us at [email protected].

In this episode of Driving It Home, Dr. Clare Knapp and Kelea Youngblood kick off 2025 by examining the Austin housing market and forecasting the year ahead. Dr. Knapp predicts a stable market this year, mirroring 2024's conditions, with steady home prices and inventory levels. Although the market may feel stagnant to some, stability allows buyers and sellers to plan confidently. Dr. Knapp emphasizes that while the year-over-year numbers may not change drastically, home prices remain significantly higher compared to pre-2019 levels, reflecting strong appreciation.

Mortgage rates are expected to stay relatively stable, ranging between 6% and 7%, as the Federal Reserve cautiously approaches rate cuts. Dr. Knapp outlines how potential policy shifts under the new presidential administration, including tariffs, could affect the housing market by influencing inflation and construction costs. While these uncertainties could impact affordability and pricing strategies, she believes the general housing landscape in 2025 will remain steady.

For buyers, increased inventory offers greater options and negotiation power. Sellers are encouraged to price realistically, leveraging equity gains while acknowledging shifts in purchasing power. They also highlight new opportunities for members, such as expanded MLS data access and preview upcoming research on market trends and demographics in the Austin-San Antonio corridor. The episode concludes with a reminder to attend the Jan. 30 Kick-Off 2025 event to prep for the new year and start off strong!

Links Mentioned:

Buy Rent Index: https://www.unlockmls.com/research

Market Data Labs: https://www.unlockmls.com/classes-and-events?location&categories&participants.name&format×&searchText=lab&page=1

Kick-Off 2025 | Jan 30 | https://www.unlockmls.com/event/%2Fkickoff2025

Download an episode transcript: https://assets.ctfassets.net/pu0snv8rn9fa/65UZWYq8dLqtbNAvn2yzmZ/936bba737514eede66e8c235879c61e1/DIH-1-7-25.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.unlockmls.com/socials

Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey 

Have feedback? Email us at [email protected].

In this episode of Driving It Home, Dr. Clare Knapp and Kelea Youngblood wrap up 2024 with a comprehensive overview of the Austin housing market, described as a "steady" year. Dr. Clare Knapp highlights key trends, including a modest decline in home sales and prices by less than 2% year over year. Elevated mortgage rates and persistent high home prices were major themes, with sellers still benefiting from substantial home equity gains—over 40% in median sales prices from 2019 to 2024. This steady market performance reflects broader economic influences, including the Federal Reserve's rate policies, which significantly shaped buyer and seller behaviors.

First-time homebuyers experienced improved opportunities in 2024 due to increased inventory, particularly among lower-priced homes in areas like Hayes and Williamson counties. These trends reflect a market shift where sellers adjusted expectations and more affordable options became available. Mortgage rates remained a critical factor, with fluctuations throughout the year ultimately settling higher than anticipated, prompting many buyers to accept the new norm of elevated rates. These dynamics enabled more first-time buyers to enter the market, contributing to a stronger performance for this group compared to previous years.

The podcast concludes with a focus on long-term home price appreciation, emphasizing Austin's strong historical growth and its position as a leader among Texas metros. The hosts encourage agents to highlight these trends to clients, underscoring the wealth-building potential of homeownership. Looking ahead, they tease a forthcoming episode on 2025 market expectations and promote the transition to their new website, UnlockMLS.com, as a hub for housing market insights and resources.

Links Mentioned

UnlockMLS.com

Download an episode transcript: https://abor.me/DIH-12-23-24

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.unlockmls.com/socials

Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey 

Have feedback? Email us at [email protected].

In this episode of Driving It Home, Dr. Clare Knapp and Deputy Director of Government Affairs Taylor Smith discuss the details of ABoR Advocacy, which is guided by two central documents: the Public Policy Principles (updated every five years) and the annual Public Policy Agenda. These documents prioritize areas like private property rights, strategic land use, and business practices, aiming to address pressing issues for Central Texas homeowners, REALTORS®, and the broader community. Taylor shares that the Unlock MLS & ABoR Boards of Directors approved the updated policy principles in effect from 2025-2030 and the upcoming 2025 public policy agenda. The approval of both signals the association’s proactive stance in tackling affordability, permitting reforms, and housing supply challenges.

The episode also reviews 2024 advocacy achievements, emphasizing the passage of significant housing reforms in Austin. These include reducing the minimum lot size, revising compatibility standards to unlock housing potential, and relaxing design standards for more housing diversity. Additionally, ABoR successfully worked with city officials to eliminate a costly sound disclosure requirement for new developments near music venues, safeguarding members' interests. Smith highlights how these wins reflect the importance of advocacy in supporting affordable housing and creating long-term solutions for Austin’s housing market.

Looking ahead, Taylor outlines ABoR Advocacy’s 2025 priorities, which focus on expanding missing middle housing, streamlining permitting processes, and enhancing homeownership assistance programs. He emphasizes member engagement through resources like the "Live from City Hall" newsletter and events such as REALTOR® Day at the Capitol (Mar. 26, 2025). The episode concludes with a look at upcoming content, including housing market reviews and projections for 2025, encouraging listeners to stay informed and involved.

Links Mentioned

ABoR Public Policy Principles | https://www.abor.com/content/uploads/2020/10/ABoR-Public-Policy-PrinciplesUpdated10-22-1.pdf

Sign Up for ABoR Adovcacy’s Newsletter | https://www.abor.com/livefromcityhallsignup

Save the Date: REALTOR® Day at the Capitol | Mar. 26, 2025

ABoR Customizable One-Pagers | https://www.abor.com/customizables

Contact ABoR Advocacy | [email protected]

Download an episode transcript: https://www.abor.com/content/uploads/2024/12/DIH-12-10-24.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].

In this episode of Driving It Home, Dr. Clare Knapp and Danielle Hammett discuss how UnlockStats streamlines tasks by providing pre-programmed charts and user-friendly dashboards in seconds. This robust platform allows agents to generate customized insights in real time, helping them communicate trends and make informed recommendations to clients.

Dr. Knapp and Danielle dive into the practical use cases for agents. For example, buyer’s agents can leverage the platform to dispel market hesitations by showcasing data like year-over-year price growth or inventory levels while listing agents can use it to guide pricing strategies and emphasize potential equity gains to sellers. The platform also benefits leasing professionals and property managers by tracking rent trends and renter demand.

They discuss the platform's flexibility, including its land report capabilities for regional markets and discuss upcoming features and integrations, such as expanded regional data sharing. Agents are encouraged to attend UnlockStats Labs for hands-on training and feedback opportunities while staying engaged with additional content and events leading into 2025.

Links Mentioned

UnlockStats | https://www.abor.com/unlockstats

UnlockStats Lab + Market Data Lab | https://www.abor.com/course-type/market-data-labs

Kick-Off 2025 | Registration Opens Soon | https://www.abor.com/events

Buy vs. Rent Index | https://www.abor.com/buyrentindex

Download an episode transcript: https://www.abor.com/content/uploads/2024/11/DIH-12-3-24.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].

In this episode of Driving It Home, Unlock MLS Housing Economist Dr. Clare Knapp and ABoR & Unlock MLS CEO Emily Chenevert discuss the state of the Austin housing and leasing markets as 2024 comes to a close. They begin by reminding listeners of the upcoming holiday season and the importance of completing their Code of Ethics by the Dec. 31 deadline. As they delve into market dynamics, they highlight how recent election outcomes may offer stability but also acknowledge ongoing uncertainties in the real estate landscape.

Dr. Knapp explains the trends in Austin’s leasing market, which had a strong performance in previous years but began to shift in mid-2024 with an increase in active listings. This rise in inventory led to a slight decrease in rental rates, providing more options for renters. They also note that some sellers, unable to meet their desired sale prices, have pivoted to renting their properties, adding to the leasing market supply. This shift has created a dynamic where sellers may adjust expectations or return to the for-sale market, depending on rental market performance.

The discussion then moves to the for-sale market, where despite volatile interest rates, the Austin market remains relatively stable, with sales and median prices essentially flat year over year. Dr. Knapp highlights the affordability challenges, especially for first-time buyers, given the gap between household incomes and rising home prices. Emily emphasizes the importance of using data effectively to set realistic expectations for clients and introduces UnlockStats, a new data analytics tool Unlock MLS Subscribers. This platform will allow agents to analyze market trends more efficiently and better communicate insights to their clients. Attend the upcoming virtual MLS Power Hour all about UnlockStats this Thursday, Nov. 21 by registering below.

Links Mentioned

UnlockStats | https://www.abor.com/unlockstats

Nov. 21 | MLS Power Hour | https://www.abor.com/event/mls-power-hour-3

Presidential Elections & Austin's Housing Market: What to Expect | https://www.abor.com/content/uploads/2024/11/Presidential-Elections-and-Austin-Housing-Market.pdf

Download an episode transcript: https://www.abor.com/content/uploads/2024/11/DIH-11-19-24.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].

In this episode of Driving It Home, Housing Economist Dr. Clare Knapp and Deputy Director of Communications Danielle Hammett, discuss the October housing market data for Central Texas. Dr. Knapp reveals that closed sales and median sales prices are relatively flat on a year-over-year basis, with only a slight decrease in both metrics. She notes a peak in active listings, suggesting inventory may slow down as the year ends. This trend, combined with the typical seasonality of fewer home sales in winter, indicates a balanced market with around six months of inventory, offering opportunities for both buyers and sellers.

The conversation also covers mortgage rates, which dropped significantly from May to September but rose again in October, affecting buyer behavior. Dr. Knapp explains that pending sales increased in September due to the anticipation of rate cuts but cautions that buyers expecting further declines may be disappointed. She advises that mortgage rates are likely to stay around 6.5% for the foreseeable future, so buyers and sellers should adjust expectations accordingly. Sellers, in particular, may need to be more flexible with pricing as the market slows in the coming months.

The episode highlights ABoR's new data analytics platform, UnlockStats, Unlock MLS subscriber’s newest benefit, which streamlines housing data for real estate professionals. Dr. Knapp encourages listeners to attend upcoming events, such as the Nov. 19 Market Data Lab and UnlockStats Lab, where members can ask questions, gain insights into the latest market trends, and stick around to learn how to better use UnlockStats.

Links Mentioned

Nov. 19 | Market Data Lab & UnlockStats Lab - https://www.abor.com/course-type/market-data-labs

Coming Nov. 13 | October Central Texas Housing Report - https://www.abor.com/marketstatistics

Nov. 21 | MLS Power Hour - https://www.abor.com/event/mls-power-hour-3

UnlockStats - https://www.abor.com/unlockstats

Download an episode transcript: https://www.abor.com/content/uploads/2024/11/DIH-11-12-24.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].