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"We can expect the sharp economic rebound in the Houston housing market to spread well into the 1^st half of 2021 (not sure how long it will last). One thing for sure, I strongly urge both buyers and sellers to take advantage of the economic swing as it is a win-win for both sides." - Elisa Linton, Humble/Kingwood, Houston, TX, metropolitan area.

Photo Credit: Shoot 2 Sell

“The San Antonio market is one of the most desirable in the country with warm weather, outdoor spaces and high quality of life.  Texas continues to show positive job growth as new businesses are relocating to Texas every day.  San Antonio has some of the most affordable housing in the state and with inventory hovering around a 2-month supply and cost of funds convincing buyers there has never been a better time to upgrade.” - Jennifer Shemwell, President, Phyllis Browning Company, San Antonio, TX.

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"Austin real estate is poised for another record-breaking year in 2021. The number of companies relocating to Austin and the jobs they are bringing, combined with the incredibly low interest rates are driving tremendous demand from buyers in our market.  The largest challenge we are facing is the lack of inventory." - Barbara Van Dyke, Austin, TX.

The post Texas Real Estate Expectations For 2021 appeared first on Haute Residence by Haute Living.

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Texas has long been a state of resilience. Although Real Estate has always been essential, the industry recently set the tone of economic strength and sustainment during an unprecedented financial time. Despite a drop in the total number of homes sold during the month of May 2020 compared to May 2019, the total number of homes sold in the first six months of this year is still 3% higher than the total number at this point last year, according to the San Antonio Board of Realtors’ Multiple Listing Service (MLS). The COVID-19 Pandemic certainly brought about an abundance of uncertainty. However, agents saw many homeowners gain clarity on how they live in their homes. For many homeowners, this was the first time they were forced to stay home for long periods of time. Due to this, many analyzed where they were living and how that affected their quality of life. Homeowners began to think about what kind of home they actually desire and as a result, began house hunting. These changes have manifested in different ways, but there are also many commonalities among them. Here are some of the most common things we have seen buyers searching for lately:

Lockdowns and quarantine have caused many younger adults to move back in with their parents. Many have found this to be a difficult adjustment over the last few months. As a result, many people are placing a high value on guest houses for their adult children to utilize for extended stays.

Community recreation facilities are becoming a thing of the past. This is not only due to the closure of many community amenities during COVID-19, but also to the fact that people are much more health-conscious now than before. Therefore, amenities like swimming pools and workout areas are especially highly desired features of private houses right now.

Home offices have also been rather popular in recent years as working from home became more commonplace, but this popularity has morphed into a near necessity for home buyers. In fact, many buyers are now seeking out dual home offices so that they and their spouse can both effectively work from home.

These are personal stories we have heard from our clients at Phyllis Browning Company, and those sentiments are the driving force behind our current area market statistics. In the San Antonio Area, the total number of homes sold in June is up 28% from May 2020 and up 5% from June 2019. The selling price is also up 6% in June from June 2019 according to MLS data. At Phyllis Browning Company, we are advocates of safe selling and are equipped to assist buyers and sellers in their homeownership goals. We take steps every day to make sure we provide The Very Best service to our clients. We are optimistic about the market for the coming months, and we are excited to continue helping clients achieve their real estate dreams!

The post Jennifer Shemwell On Current Real Estate Market Trends At Phyllis Browning Company appeared first on Haute Residence by Haute Living.