Being with Boulevard Realty is a pleasure for many reasons, but top among them would probably have to be the daily insight I receive from broker/owner Bill Baldwin. In addition to always being able to call on Bill as a resource, I benefit from his in depth analysis of the real estate market at our weekly meetings. Last week, for the first time ever, Bill opened the door to the public for one of his state of the market presentations. Not only were friends, family, clients, and press allowed into our office for the presentation, but it was live streamed on Boulevard Realty’s Facebook page and our Rediscovering Houston blog. I made sure to be there in person, as I always enjoy hearing Bill’s take on the market and was especially excited for this one, not only because it was a special public presentation, but also because it was his mid-year report. For those of you who were unable to attend, you can catch a video of the presentation below.
The presentation can be best broken down into the following five sections. Here’s a brief breakdown in case there are certain parts of the talk that may interest you more than others.
A look back at the booming market of 2013-2014 (3:58-10:46): He began by reviewing and reflecting on the record setting Houston real estate market of 2013 and 2014. This is an important place to start as it’s good to understand what went on in those two booming years and what got us to that point. This helps us establish some background and perspective, which in turn, allows us to make sense of how the market got to where it is today. This portion of the presentation included two videos recorded a couple years ago in which he discussed the Houston housing market at that time, covering everything from how it compared to the rest of the country to how low inventory levels created a seller’s market.
The real relationship between oil prices and the real estate market (10:46-19:35): Much has been made of the relationship between falling oil prices and the state of the real estate market. The dropping oil prices have led to massive layoffs across the industry, and with so many Houstonians working in the oil field, it has certainly had its effect on Houston’s real estate market. The uncertainty revolving around oil and the city’s economy has made many hesitant to buy homes. Bill discussed in depth how changing oil prices have affected home sales and whether or not the slowdown in the real estate market is more about oil prices or simply a natural rebalancing.
Mid-2016 Real Estate Market Statistics (19:35-44:50): The look back at the market of 2013 and 2014 and the breakdown of the relationship between oil prices and the real estate market set the stage for Bill’s in depth analysis of Houston’s real estate market halfway through 2016. He covered a variety of year to date home sales statistics not only for Houston as a whole, but also broken down by area, covering all of Houston’s major inner loop neighborhoods. Bill explained what these numbers mean for the state of Houston’s housing market thus far in 2016 and what to expect for the rest of 2016. His analysis went well beyond the statistics though, as he gave insight into what today’s buyer is thinking and how it differs from buyers over the past few years.
Workforce/Affordable Housing & Best Bets for Investors (44:50-51:48): Home prices are on the rise all across Houston, but there are still plenty of affordable housing areas. Bill delved into where exactly these neighborhoods of opportunity are and what makes them great places for younger/first time buyers as well as those looking for investment property.
Trends and Q&A (51:48-End): Bill concluded his presentation by giving his take on trends in the current market. He then opened things up by fielding questions. This allowed all those in attendance the unique opportunity to pick the mind of one of the top selling brokers in the inner loop!
I hope you’ll take the time to watch this presentation as I think it’s a great resource and simply an interesting and insightful take on the real estate market from a very bright mind.
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