Our mid-year River Oaks Market Report is now out, and we hope you’ve had a chance to take a look.

Like you, we have read the national and local headlines about sky-high housing prices. (We’re looking at you, Austin.) We’ve taken note of sales activity slumping now as summer takes the spit out of everyone. We hear the pros and cons of rising interest rates. That’s all good background. But we have eyes only for River Oaks trends. We have been mining and crunching data that you will see nowhere else. Here are a few quick take-aways for the first half of 2022:

  • Mid-2022 was the curtain call for the one and a half years of unprecedented activity in River Oaks, prompted by people acting on their long-term plans prompted by the Covid-19 crisis. Last year set many records for sales volume in River Oaks, and we expect those records to stand for a long time.
  • Yes, buyers made their big moves in River Oaks, but sellers – also acting on their long-term plans – made it possible.
  • While there are still unsatisfied buyers out there, we are running out of sellers who want to move. The most obvious reason is that any new purchase will extract the same dividend as the seller makes selling, thus begging the question: Where to go? Nevertheless, low inventory presents an opportunity for anyone thinking of selling, especially if they are downsizing or planning to rent.
  • Which brings us to some good news: We anticipate more normal market conditions for the next 12 months, despite the noise of inflation and recession worries.

The current inflation misery, interest-rate creep, price of oil, fear of a future recession – it’s all here. But it’s not a crisis. We have emerged from a true crisis that gripped the River Oaks real estate market in April 2020 and hung on for months. What we’re experiencing now is the usual push and pull of market forces, plus the run-up to a mid-term election. It’s almost like we’ve forgotten what normal is. This is it, friends.

As we mention above, River Oaks’ inventory needs replenishing in the months ahead. Buyers are looking. If you’re thinking about putting your house on the market, please give us a call at 713-240-2611