Active Single Family Homes are on the rise

Looking at Austin's August statistics, the number of active single family homes are 12,808 units. This is relatively high considering just about 2 years ago, March 2021, we had a hot market at only under 2,500 active listings.

In retrospect, back in June/July 2010, we had over 14,000 active listings, the highest its been since the last recession. 

Why do you think Austin's inventory is so high? Could it be because our interest rates are currently averaging 7%? Let me know your thoughts.

Behavior of Home Buyers when rates are high

I obtained historical interest rate data from themortgagereports.com and the number of units single family residential sold from 2004-2022 in Austin, TX from Austin Board of Realtors; then I plotted the data (see graph below). We know that low interest rates tend to increase demand for property. We saw this in Austin in 2021 (per graph).

Currently in Austin, we have over 12,000 active homes in the market, thanks to the current 7% interest rate. Last week, I attended an economic forcast and the speaker shared that over 50% of today's buyers (nationally) are first time home buyers.

What is the market like in your area? Are you seeing high inventory or multiple offers? Please comment below and let me know.

I gave myself a Face Lift!

One thing I did not plan in my life is to back to school and re-learn coding.  Well, I wasn't really expecting to learn how to become a full stack developer, nor become a front end or back end developer.  Truthfully, I didn't like any of this in one bit.  I did learn how to program in HTML, CSS, JavaScript, learned node.js, bootstrap, MySQL, NoSQL, MongoDB, Insomia, Git, GitHub, Heroku and much more.  

While I was learning all this for 12 weeks, I decided to write my websites from scratch, hence, the face lift.  Here are my 2 websites:

www.PearlJonesHomes.com

www.ATXShortsale.com

Well, give it a look and let me know what you think.  I truly enjoyed coding my website but I would not want to be doing this every day.

Where did I go?

 I am back at Home Stars of Texas Realty. 

While I was a Real Estate Coach, COVID hit in 2020.  Life stopped, my mom passed away, and so did many close friends.  When travelling opened up, I decided to take my sons to Maui in July 2022.  After I got home, I decided to solo travel.  I backpacked to Bali, Phuket and Boracay.  During this time, I visited my mom's grave several times, stayed at my parent's home in Manila, grieved and wept.

Fast forward to 2023, I decided to go back to school.  I took coding classes at University of Texas in Austin, completed all 15 challenge homework, averaged 87.  I didn't care for the class I took so I opted as a non participatory student.

During coding class, I decided to look into Data Analysis and specialize in Real Estate.  That is what I have been doing, learning and building my profile as a Real Estate Data Analyst.  What this means is that I will still be a full time Real Estate Broker and do sales, but I am adding a new service which is Investment Analysis.  Stay tuned as I go through my learning.  I am very excited about this path.  I cannot wait to get started.