The number of new listings hitting the market in the Austin MLS is slowly increasing each week. Compared to April 19 (through yesterday), the number of homes listed is down 28.5%. This is a bit more than earlier in the week and it is driven by the numbers last year being quite strong. Usually at this time of year we start to see the number of new listings increasing each week. While that is happening again this year, the increase is certainly not as great. Again, I will say that given the stay-at-home orders, which … [Read more...]

The guidelines for lending are changing rapidly. I asked Michael Scott from Capstar Lending to share with us what changes are occurring and how they are impacting real estate. In this conversation we cover changes in credit scores, reserves, and employment for conventional, FHA, and jumbo loans. We also talk about what buyers and sellers should expect to experience as these changes unfold. If you have any questions, leave them here or contact either of us directly. You can reach Michael at 512-289-8783 or … [Read more...]

The number of new listings over the past several days continues to decline, both compared to previous weeks and compared to last year. For the seven day period ending Monday, April 13, there were 732 new listings in the Austin MLS which was down 41% from last year. The declines over the preceding weeks were 17%, 21%, and 37%, respectively. The number of contracts for the seven days ending Sunday, April 12, was 548. This number will increase a bit, though, because, for reasons that have always eluded me, some … [Read more...]

The numbers have changed a bit so let's take a look. For the seven days ending yesterday, Thursday, April 9, the number of new listings in the Austin MLS is down 33% from the same week last year. This seven day moving average has been steadily increasing over the past few weeks. With over 800 new listings during this time, though, there are still a lot of sellers entering the market. The change in the number of contracts is not changing much, though. Over the seven day period ending Wednesday, April 8, the number … [Read more...]

The numbers have changed a bit from the last time I reported them, but not very much. Compared to the same week last year, the number of new listing in the MLS for the seven days ending yesterday, Monday, April 6 was down 23%. The number of contracts signed for the seven day period ending April 5 was down 35% compared to the same period in 2019. The number of withdrawn and 'temporarily off market' listings is fairly consistent with 15 and 26 respectively. … [Read more...]

The number of new listings added to the MLS yesterday, April 1, was 148. That was down 8.6% from the corresponding Wednesday from last year. For the week ending yesterday, the number of new listings was down 21% from last year. The number of contracts from Tuesday, March 31, was 69, less than half of what it was on the corresponding Tuesday last year (150). For the week ending Tuesday, the number of contracts was down 40% from last year. Withdrawn and 'temporarily off market' were 9 and 34 respectively. No … [Read more...]

The number of new listings in the MLS yesterday, Tuesday, March 31, was 95. That was down 9% from last week and down 10% from a year ago. Comparing the past week to the same week a year ago, the number of new listings was down 17%. The number of new contracts on Monday, March 30 was 126. This was up 5% from the prior week, but down 32% from the corresponding Monday in 2019 (with our strong seller's market, Monday tends to be the day with the most contracts signed). For the week ending on Monday, the drop in … [Read more...]

The number of new listings that were added to the MLS on Monday, March 30 was 124. That number is higher than last Monday and higher than the average Monday over the past four weeks. But, as I mentioned in yesterday's update, it is time to start comparing to year-ago periods. Because the day of the week has a big impact on the numbers, I am not comparing March 30, 2020 to March 30, 2019. Instead, I'm comparing March 30, 2020 to April 1, 2019 as it is the closest Monday. When comparing in this way, the number of new … [Read more...]

The number of new listings added to the MLS yesterday, Sunday March 29, was 57. That is a high number for a Sunday - in fact, a 16% increase compared to the average for the past four Sundays. Of course, we are now heading into a time of year when we expect more listings to come to the market. When I started out tracking these numbers on a daily basis, it was just to see how we were changing day-to-day and week-to-week. However, as it stretches on, I believe I need to start comparing the numbers to this time same … [Read more...]