The cost of housing in North America is rising, but real estate market trends can be surprisingly encouraging if you look closely at specific markets, like Texas.
For example, from April to January 2022, seasonally adjusted home sales in Texas declined for three straight months. A hot market characterized by flipping has cooled out, and while the low inventory and rising prices still pose a barrier to first-time buyers, there was a marginal sales increase in more expensive homes.
New construction in the state is poised to offset some supply challenges, hopefully making homes more affordable. Aside from the ups and downs of the local market in cities like Dallas or Austin, one of the biggest real estate trends involves innovative technologies in Texas that make home buying easier and more affordable.
Let’s learn more about these technological and market-based trends revolutionizing Texas’ real estate industry.
Big Data & Transparency
Big data continues to play an increasingly prevalent role in the real estate industry, bringing more transparency and more accurate representation of costs, profits, and even agents.
This is particularly evident in Nobul, a real estate technology platform founded and operated by Regan McGee now accessible in Texas. Nobul lets homebuyers sit back and select an agent from dozens of verified, vetted professionals vying to lock them down as customers.
Homebuyers simply need to list their budget and describe what they’re looking for in a home. Then, this data and the platform’s unique algorithm work together to suggest suitable agents. Homebuyers can browse the profiles, compare services, fees, and experience levels, and pick the agent right for them.
This level of transparency is key to making an informed decision. Even better, agents are so incentivized to compete for your business that they typically offer things like free additional services or cash back. If there’s ever a time to save, it’s when making the largest purchase of your life!
New homebuyers can choose an agent with competitive rates, whereas more seasoned users may prefer an agent with experience closing high-end deals. Nobul has a huge range of real estate professionals, so the choice is yours. Either way, making an empowered decision that’s right for you when using real estate technology is easy.
Security and Privacy
The digital world can be dazzling and exciting, but high-profile data breaches and security risks have made some users understandably wary about how things can backfire. Leading property technology addresses these risks by never sharing sensitive user data with the agents on their platform.
Data can’t get into the wrong hands if it is never shared in the first place. In Nobul’s case, the platform never gives contact info to third parties or real estate agents. All communication takes place within the app itself, so it’s easy for homebuyers to share listings and pictures while keeping connected, without any risks to their privacy or security.
Texas real estate has parallels to what’s happening in other major states across the country. Residents need to zoom in on the neighbourhoods they want to live in, as the three most important things in real estate are “location, location, location.” But overall, digital marketplaces that make real estate easier to buy and more affordable are the most popular trends in Texas and North America.
