Driving It Home with Unlock MLS

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert focus on the newly launched Right Here, Right Now campaign and the suite of resources launched on the new hub . Emily discusses the campaign's intent to assist with navigating the recent NAR settlement changes and MLS rules. They emphasize the importance of a buyer's agent portfolio, to be introduced at the Market Shif...

In this episode of Driving It Home, ABoR & Unlock MLS CEO Emily Chenevert and Housing Economist Dr. Clare Knapp discuss the Austin labor market, focusing on recent tech layoffs and their implications for the local economy and housing market. Dr. Knapp explains that while the tech sector in Austin is significant, it does not dominate the economy as much as it used to. The layoffs, primarily dri...

In this episode of Driving It Home, ABoR & Unlock MLS CMO Kelea Youngblood and Housing Economist Dr. Clare Knapp discuss recent economic indicators and their implications for mortgage rates. They begin by examining the latest Consumer Price Index (CPI) data, highlighting a 3.4% year-over-year increase in headline inflation and a 3.6% rise in the core CPI. Dr. Knapp notes that while these figur...

In this episode of Driving at Home, Housing Economist Dr. Clare Knapp and CMO Kelea Youngblood discuss significant trends in the Austin real estate market, particularly noting the increase in housing listings and sales in April. They highlight a substantial 26% year-over-year increase in new listings and a 6% increase in closed sales, with a notable rise in listings in areas outside the central Au...

In this episode of Driving It Home, CMO Kelea Youngblood and Housing Economist Dr. Clare Knapp discuss the Federal Reserve's decision to maintain steady rates and its implications for mortgage rates. While no immediate changes are expected, there's anticipation for a potential rate cut in late 2024, which could positively impact mortgage rates. Despite modest decreases in the 10-year treas...

In this episode of Driving at Home, ABoR & Unlock MLS Housing Economist Dr. Clare Knapp (formerly Dr. Clare Losey!) and ABoR & Unlock MLS CMO Kelea Youngblood delve into the March employment statistics for Austin, noting a slowdown in the labor market since mid-2023. With job growth now around 2.4%, down from previous levels of 3-5%, the discussion attributes this to both market normalizat...

On this episode of Driving It Home Dr. Clare Losey and ABoR Deputy Director of Communications Danielle Hammett discuss the recent economic research on the impact of minimum lot size on housing affordability and the total cost of home ownership. The discussion revolves around a proposed change in Austin's minimum lot size from 5,750 square feet to 2,500 square feet. Dr. Losey explains that redu...

In this episode Driving It Home, Dr. Clare Losey and ABoR Deputy Director of Communications Danielle Hammett focus on analyzing the March Housing Market Report . Despite sustained elevated mortgage rates, home sales and median sales prices have remained relatively flat. There's a noticeable division in the market, with increased activity seen in both the lowest-priced homes (under $300,000) an...

In this episode of Driving It Home, Dr. Clare Losey and Kelea Youngblood discuss a significant increase in new and back-on-market listings. Dr. Losey notes a 43% week-over-week increase in new listings in the Metropolitan Statistical Area (MSA), with the city of Austin experiencing a 63% increase, especially among homes priced between $400,000 to just under $700,000 and those over a million dollar...

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert focus in on preliminary data for March. Dr. Losey anticipates a slight year-over-year increase in sales and a noticeable rise in active and new listings, although not as significant as February's 45% year-over-year uptick. There is caution advised regarding predicting an increase in the median sales price due to price stic...

In this episode of Driving at Home, Dr. Clare Losey and Danielle Hammett discuss leasing data, federal interest rates, and trends in pending sales. Dr. Losey starts the podcast by noting an uptick in pending leases, especially in the most affordable rent range corresponding to homes under $300,000. She emphasizes that the rental market continues to meet the homeownership needs that are unmet in th...

In this episode of Driving It Home, ABoR and Unlock MLS CMO Kelea Youngblood joins Dr. Clare Losey to discuss the latest labor market statistics for the Austin area and analyzes the link between job growth and the housing market, specifically median sales prices and closed leases.   Dr. Losey highlights that Austin's job growth is surpassing national and Texas rates, though it has slowed compa...

In this podcast episode, Emily Chenevert and Dr. Clare Losey discuss the real estate market in Austin during the spring break period, a busy time for the city due to events like South By. Dr. Losey remarks on the market's performance in February, noting that sales and median sales prices remained relatively flat, with only a modest increase of about 1%. Despite fluctuating mortgage rates throu...

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert discuss the real estate market outlook for the upcoming spring season. Dr. Losey predicts a steady market similar to last year, with sales and home prices expected to fluctuate minimally, around a 5 percent difference either up or down. She emphasizes the role of slightly elevated mortgage rates, which are anticipated to stay...

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert discuss construction costs and their impact on the housing market. Dr. Losey notes that single-family construction costs have stabilized on a year-over-year basis, with construction labor costs flat and material costs up by about 3%. This is a significant slowdown from the spikes seen during the height of the COVID-19 pandemic...

In this episode of Driving It Home, Dr. Clare Losey and Danielle Hammett discuss the Central Texas economy and housing market, focusing on January 2024 numbers. Sales increased by 4% year over year, driven by a decline in mortgage rates in the previous months. Despite a 4% decrease in the median sales price, the total sales dollar volume remained relatively unchanged. New listings also increased,...

In this episode of Driving It Home, Dr. Clare Losey and Danielle Hammett discuss the Central Texas economy and housing market, focusing on January 2024 numbers. Sales increased by 4% year over year, driven by a decline in mortgage rates in the previous months. Despite a 4% decrease in the median sales price, the total sales dollar volume remained relatively unchanged. New listings also increased,...

In this episode of Driving at Home, Dr. Clare Losey and Emily Chenevert discuss Chair Powell's comments on inflation and the uncertainty of the economic path forward. Markets showed a cautious response, with stock market dips and fluctuations in the 10-year treasury yield. Dr. Losey discusses the possibility of a rate cut–potentially happening in May or June.   The conversation moves to the st...

In this episode of Driving It Home, Dr. Clare Losey and ABoR & Unlock MLS CMO Kelea Youngblood discuss the state of inflation and interest rates. Dr. Losey explains that while inflation has slowed since peaking in 2022, the Federal Reserve is likely to maintain current rates in the near term. There might be a rate cut as soon as March or more likely in May, depending on ongoing inflation data...

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert discuss the current state of housing affordability in Austin. Dr. Losey outlines the critical factors influencing affordability, including mortgage rates, home prices, and household income. Despite some moderation in home prices and slight wage growth, the increase in mortgage rates over the past two years has significantly re...

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert discuss the latest Consumer Price Index (CPI) report and its implications on the economy and inflation. Dr. Losey notes a slight increase in the CPI from November to December, with a rise from 3.1% to 3.4%, suggesting that reaching the desired 2% inflation rate might take longer than anticipated. She emphasizes that the Federa...

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert discuss the labor market outlook for 2024. Dr. Losey suggests that although the labor market is expected to cool down, this is not necessarily a negative development, as it could help alleviate some inflationary pressures. The cooling refers not to job losses but to a slower pace of hiring, which could result in a less competi...

In this episode of Driving It Home, Dr. Clare Losey and discuss economic predictions for 2024, zooming the lens in on the housing market. Both express cautious optimism for the year, noting the previous year's market shifts, particularly the effects of higher mortgage rates and market adjustments post-pandemic. Dr. Losey predicts that while mortgage rates are expected to decrease gradually, th...

In this special-edition video episode of Driving It Home, Dr. Clare Losey and Emily Chenevert reflect on the past year, marked by economic volatility and a difficult mortgage rate environment. They discuss the fast rate hiking cycle, the most aggressive in four decades, which has led to a decline in affordability for homebuyers.   Despite the last rate hike in July, there is optimism for potential...

In this episode of Driving at Home, Dr. Clare Losey and Emily Chenevert discuss the local job market in Austin, with a focus on a recent jobs report. Dr. Losey notes a year-over-year job growth of approximately 3%, indicating a resilient labor market, albeit with growth rates lower than previous months. She explains that the market is stabilizing post-pandemic and is no longer in a recovery phase,...