2Q17 Metrostudy Housing Forecast Webcast Recap
On May 11th Metrostudy’s Chief Housing Economist, Mark Boud, presented his housing webcast to a virtual room of over 1,200 registrants. The following four Regional Directors from each of the Texas major metros joined Mark in a round table lightning session to present the trends and outlook for their local markets: Paige Shipp (Dallas & Fort Worth), Vaike O’Grady (Austin), Jack Inselmann (San Antonio), and Lawrence Dean (Houston).
In case you missed this information packed presentation, we’re pleased to share the recording from this recent virtual event. This is a not to be missed session for anyone looking to be successful in the residential construction space.
And here are just a few highlights and key takeaways in case you can’t find the time to catch up with the recording and want a sneak peek:
- The market’s future is mixed; strong employment growth, rising levels of pent-up demand, rising mortgage rates, rising inflation, rising over valuation.
- The surge in the remodeling/renovation market will continue in the near-term.
- The window of land purchase and development remains open to Year 2019 in most markets.
- Too much new home product is being concentrated on homes that are too large and too costly. Many Millennials are being priced out of the market.
- An extended period of low mortgage rates has allowed home prices (and land values) to rise higher and more rapidly than they should have. Rising mortgage rates may contribute to severe over valuate in many markets, despite only modest price appreciation during the next few years.
- Overall, we’re in the 6th inning of a challenging, uneven, uncertain market cycle.
Careful research and more accurate data analysis have never been more important than in this current cycle. If you want to get the full report and outlook, visit our recording and gain an hour of additional key insights. You will also have a chance to hear a more detailed analysis for all major metros in the hot state of Texas.
Keep an eye on your inbox for our next Consumer Insights webcast to be held late June with a definite date and topic TBD.