July 2020 Real Estate Talk

Buyers are in full force in Austin.  Inventory remains low while buyer demand surges.  Thanks to a majority of people now working from home, homes with an additional space for a dedicated office are hot commodities. 

As of June 14th, pendings (homes under contract) were up 41% when compared to this time last year.  Denver’s (27%) and Chicago’s (20%) pendings showed an increase as well, but not NYC (-58%).  If you are looking to live in NYC, thinking you could probably get a deal at the moment. 

graph compliments of  Mike Delprete

In other real estate news, the Houston Association of Realtors has mandated that realtors stop using the word “master” in describing the largest bedroom or bathroom in a property, instead those rooms will now be called the “primary” bedroom or bathroom.  In response to this move, singer-songwriter John Legend tweeted : Real problem: realtors don’t show black people all the properties they qualify for. Fake problem: calling the master bedroom the master bedroom. Fix the real problem, realtors. 

In response to an offended realtor, Legend tweeted: Me saying this is a real problem doesn’t mean that you, offended real estate agent, do it. It doesn’t mean 100% of you do it. It means it’s widespread and well-documented enough to be an actual issue. As my grandfather/pastor used to say, “I’m not talkin bout u unless it’s u.”

I have to agree with Legend. Seems like in this case white people are focusing on the wrong thing?  And not all of us realtors discriminate.