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].

In this episode of Driving It Home, Dr. Clare Knapp and Danielle Hammett focus on the potential impact of the presidential election on the housing market, especially in Austin. Dr. Knapp explains that while there's an assumption that elections influence the economy and, by extension, the housing market, the Federal Reserve’s role in setting interest rates generally limits any direct impact. Mortgage rates, influenced more by the 10-year Treasury yield than by election outcomes, are the biggest factor affecting home sales, meaning election results rarely have a significant effect on the housing market.

Austin’s unique market is also discussed, noting that election years have shown slightly better sales performance in the past, though this is attributed more to economic cycles and market trends rather than the election itself. For instance, sales were higher in 2020 due to the COVID-19 housing boom, not solely because it was an election year. Dr. Knapp emphasizes that the local market’s resilience and its response to broader economic forces are more significant factors for agents and buyers to consider.

The episode closes with advice for real estate agents on guiding their clients through election-related anxieties and focusing on local market trends over national headlines. They encourage agents to use available resources, such as downloadable market insights, to help clients understand real-time data and make informed decisions.

Links Mentioned
ABoR Voter Resource Hub | https://www.abor.com/vote

September Central Texas Housing Report | https://www.abor.com/marketstatistics

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

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

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

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].

Download an episode summary & transcript: https://www.abor.com/content/uploads/2024/11/DIH-11-5-24.pdf

In this episode of Driving It Home, Unlock MLS Housing Economist Dr. Clare Knapp and ABoR & Unlock MLS CMO Kelea Youngblood discuss ABoR’s global real estate initiatives, highlighting the organization’s recent efforts to expand its international reach. Kelea recounts the recent trip to Milan with other ABoR representatives to attend an international MLS conference, where they networked with global real estate professionals and were awarded an award for mentorship.

Looking at the global market, Dr. Clare Knapp provides an overview of Austin’s strong positioning. She notes Austin’s affordability compared to other major U.S. cities and outlines the 2024 Central Texas International Home Buyers Report findings, showing that international transactions have outpaced local sales. Despite the challenges in the U.S. housing market, international buyers continue to see Central Texas as a favorable option due to economic factors and Austin's growing global reputation in technology and finance.

Kelea and Dr. Knapp end the podcast emphasizing the increasing importance of international sales for Central Texas realtors, encouraging listeners to participate in ABoR’s global programs and events. They close by inviting listeners to stay informed and engaged with the global real estate scene through ABoR’s various offerings, reminding members to attend the next Global Business Alliance Network Hour on Nov. 1 focused on international business.

Links Mentioned

Central Texas International Homebuyers Report | https://www.abor.com/internationalreport

ABoR Global | https://www.abor.com/global

Global Business Network Hour | Nov. 21 | https://www.abor.com/event/abor-gba-network-hour-22

Events & Education Calendar | https://www.abor.com/events

Texas REALTORS® Working with Foreign Buyers | https://www.texasrealestate.com/members/communications/texas-realtor-magazine/issues/september-october-2024/working-with-foreign-buyers/

Download an episode transcript: https://www.abor.com/content/uploads/2024/10/DIH-10-29-24.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 Kelea Youngblood discuss the recently released September Housing Report, focusing on the real estate trends in the Austin market. They begin by addressing the headline numbers, highlighting a slight 3% decline in closed sales and a 7% drop in median sales prices, now sitting at approximately $425,000. Despite these declines, Dr. Knapp emphasizes that mortgage rates have dropped from 7% in early July to around 6% at the end of September, yet sales were affected by buyers delaying purchases, likely anticipating further reductions in rates.

The conversation then moves to the sharp 20% increase in pending sales in September. However, Dr. Knapp notes that October sales activity has seen a 17% year-over-year decline. She attributes this to buyers expecting further rate cuts after the Fed's rate cut in mid-September, which did not materialize as rates began rising again. Sellers may need to adjust their expectations, with Dr. Knapp suggesting that home prices might need to come down by about 10%—bringing the median below $400,000—to reignite buyer interest amid higher rates.

Finally, they touch on inventory levels, with active listings up 12%, though lower than earlier in the year when it saw spikes up to 50%. The average close-to-list price ratio is hovering just below 93%, indicating that sellers may still have some room to negotiate. As 2024 approaches, the market is expected to remain slow, with mortgage rates likely staying in the low-to mid-6% range, keeping affordability and buyer demand constrained.

Links Mentioned

https://www.abor.com/unlockstats

https://www.abor.com/marketstatistics

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].

Download an Episode Transcript: https://www.abor.com/content/uploads/2024/10/DIH-10-22-24.pdf

In this episode of Driving It Home, ABoR Deputy Director of Communications Danielle Hammett covers several key announcements from the recent Central Texas Housing Summit and updates on the local housing market. She highlights the launch of UnlockStats, a new customizable data reporting tool for Unlock MLS subscribers, and the upcoming Data Share with Houston Association of REALTORS® and the San Antonio Board of REALTORS®. Additionally, Danielle discusses the release of the 2024 Central Texas International Home Buyers Report and encourages agents to stay informed on local regulations and policies that impact housing affordability and accessibility.

Taylor Smith, ABoR Director of Government Affairs, joins Danielle to dive into the local housing market's recent trends, including a drop in median sales prices and an increase in months of inventory, signaling a more balanced market. They stress that, despite these positive changes, housing affordability remains a significant concern. Many residents, including public servants, continue to struggle to afford homes within Austin. Taylor emphasizes the need for continued advocacy and reforms that aim to increase housing stock and make it easier to build more homes across the city.

The podcast concludes with a discussion of upcoming local elections and their importance in shaping housing policy. Taylor highlights how city councils and other local offices play a vital role in determining the future of housing affordability in the region. The hosts encourage listeners to stay engaged, vote in local elections, and take advantage of resources like the voter hub at ABoR.com/Vote.

Links Mentioned

https://www.ABoR.com/Vote

https://www.ABoR.com/internationalreport

https://www.ABoR.com/Research

https://www.ABoR.com/TheTruth

https://www.ABoR.com/Livefromcityhallsignup

https://www.ABoR.com/MarketStatistics

https://www.ABoR.com/class/market-data-lab-9

Member Portal | Portal.ABoR.com

Clareity Dashboard | Austin.Clareity.net

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].

Download an Episode Transcript: https://www.abor.com/content/uploads/2024/10/DIH-10-16-24.pdf