We’re here for HOU. We’re here for you. We’ve spent most of 2020 studying the actual and potential impact of the COVID-19 pandemic on the local real estate market and on our communities. Please join us as we share our experience and insights based on how Houston and the housing market have weathered past disruptors and answer any questions you might have about the short, medium and long-term impact of the public health and economic shock on your home and your neighborhood.
Here is some of what we cover:
Showing, sales, and inventory statistics since the arrival of coronavirus.
Options for sellers, buyers, and renters in this market.
How relief options might help stabilize the economy and hence the housing market going forward.
This informational webinar is open to all. Please feel free to submit questions beforehand by emailing email@example.com or by using the form below.
Join us on Tuesdays at 10 AM going forward for updates and developments as we see them.
What questions do you have?
December 15th Recap
For our final market update of 2020, we start by looking back at November’s sales numbers, which remained strong, with demand once again outpacing supply. Stats from the first week of December suggest that the positive numbers are likely to continue in December as well. Overall, it has been a remarkable year of resiliency for housing in Houston. Looking at the year-to-date numbers through November, closed sales are up 9 percent compared to the first 11 months of the record-setting 2019. Medium and average prices are up significantly as well. Looking ahead to 2021, Bill thinks we’ll continue to see positive headlines through the first quarter of the year as demand remains high.
November 10th Recap
Coming to you exactly one week after Election Day, we take a look at what the election results could mean for the housing market over the next few months. Bill asserts that a split government is ultimately probably the election outcome most likely to produce a stable real estate market. We also dig into October’s numbers, which were up significantly, pretty much across the board. This included year-over-year single-family homes sales that increased by nearly 30 percent. 2020 year-to-date sales continue to outpace our record-setting 2019 by a large margin too. Because of extremely low inventory though, Bill warns that this trend is highly unlikely to continue in 2021. In addition to the national and local markets, we go hyperlocal for a bit too, zooming in on different segments of the Heights.
October 13th Recap
As the final quarter of the year begins, we take a look back at how Houston’s real estate market fared in the year’s third quarter. It was an exceptionally strong quarter, and it finished on a high note in September, when every indicator was up. Increasing demand and decreasing supply have propelled us to a marketplace where 2020 sales are even outpacing the record-setting sales of 2019. Bill does caution that this trend of selling more homes (year-over-year) despite there being far fewer homes available is unsustainable in the long-term. That being said, early indicators suggest that the market will remain strong during the final quarter of 2020.
September 15th Recap
After a pause early on in the pandemic, June, July, and August were all very strong months for the Houston real estate market, showing just how resilient real estate is here in Houston. We are finally starting to see more confidence in the high-end market too. Inventory is very low, but there are plenty of buyers right now so we are seeing a fairly balanced market, or one that is slightly in the favor of the seller. For the year of 2020, sales are up 3 percent over 2019, which was the single best year ever for Houston real estate.
August 18th Recap
Nationwide, housing remains one of the most consistently positive indicators in the long road of building resilience and recovery into the economy in the ongoing pandemic. Locally, the Houston real estate market continues posting record numbers even as inventory remains historically low. However, not only is all real estate local, it is price-sensitive. While many segments of the market have bounced back quickly and are contributing to the record 10,000+ single-family home sales the Houston area saw in July, the high end market is still experiencing a fair amount of pause in the dog days of summer. That doesn't mean high end home sales aren't starting to see some movement, but buyers at $1.1M+ are slower to act and discerning than ever. Meanwhile, while some have predicted that cities would see a mass migration to suburban areas for lower home prices and more space, that phenomenon hasn't really taken place.
June 30th Recap
At halfway through the year and nearly four months into the pandemic, the glass remains half full vs. half empty, depending on your perspective. The good news is that the real estate market continues to demonstrate a certain level of resilience, both locally and nationwide. The somewhat bad news is that it seems we are in it for the long haul when it comes to sheltering in place and the level of disruption that has on the economy and truthfully our day-to-day lives. However, there are always modestly positive indicators to look to. For our part, we are continuing the essential aspects of real estate and continuing to see a fair amount of activity in most areas and price segments, though the very high-end segment (above $1.2M) is experiencing some pause. At this point, the name of the game continues to be precaution and a certain level of personal responsibility in preventing further spread.
June 2nd Recap
Another quick review of the past few weeks in Houston housing. The long and short of it is that positive indicators for home sales continue, while inventory in most of inner loop Houston remains quite tight. This week also showed some interesting activity in sale prices, which in many hotter markets like the Heights are yielding above asking. Houston and Harris County also continue to have a relatively contained spread of COVID-19, and the online home browsing activity remains at an all-time high. It's no surprise that the week leading up to June 1st ended seeing the first spike in home sale activity since the beginning of the pandemic.
May 19th Recap
Short and to the point this week. Though we certainly hit a few highlights of COVID-19 spread and public health action, we spend most of the time thinking about the bigger picture of the housing market and economy, including the importance of completing the Census to ensure that the region continues to get the public resources it needs to keep us safe, educated, and moving.
May 12th Recap
This week we go over even more data which suggests the housing market is as resilient as ever. Mid-May has brought more inventory compared to the past two months, and it is met with pretty strong demand. Meanwhile, COVID-19 testing in the Houston area is widespread and easily available, and Realtors continue to adapt to a safe, new normal.
May 5th Recap
Our first weekly update for May is a short and sweet look at Houston and Harris County's progress in "flattening the curve" and expanded opportunities for COVID-19 testing open to all in our region. We also look back into specific market activity showing that homes in certain price segments and areas continue to get absorbed by lingering and even pent up market demand at an impressive rate.
April 28th Recap
This week we dig further into the true number of COVID-19 cases in our region using the Ready Harris dashboard. Then, we dig even deeper into real data from the MLS, mostly focused in our home base of the Heights, Garden Oaks, and Oak Forest, to show that inventory remains very, very low while absorption (the number of homes selling and getting under contract) is very strong. Finally, we also touch on how we intend to respond to the lifting of the "shelter-in-place" orders.
April 21st Recap
This week the elephant in the room was the price of oil. However, as Bill explains, the price of oil futures is not the price of oil, and it would be premature to guess at what impact this may have on housing. We also reviewed the Ready Harris site for tracking COVID-19's impact on Houston and Harris County, and once again discuss how supply and demand is ultimately what is determining the health of our housing market.
April 14th Recap
Our second market update on Houston for the COVID-19 era. This week we show the slowdown in home shopping and listing activity over the last few weeks market-wide and cover statistics in a few specific market areas like the Greater Heights and Rice Military/Washington Corridor/Montrose/River Oaks. Also, we talk lending and COVID-19 testing in the City of Houston.
April 7th Recap
The first of our weekly market updates with Bill Baldwin, broker and owner of Boulevard Realty. In this installment, Bill provides an overview of general market trends as he sees them, including the precarious balance of supply and demand during an intense period of disruption. Bill also describes options for sellers, including standing pat and using this valuable pause in some segments of the market to spruce up listings and focus on the lifestyle and sanctuary that our homes and neighborhoods can provide. For buyers, Bill covers lending activity and changes in light of tumult in banking and financial markets. Finally, we answer questions about homebuilding, buying in up-and-coming areas, and the role of the Realtor in this new real estate landscape.