Rogers Healy on how the real estate market became the Wild Wild West

Today’s Daily Download episode features an interview with Rogers Healy, the owner, and CEO of Rogers Healy and Associates. In this episode, Healy explains how the COVID-19 pandemic has transformed the real estate industry as well as its impact on homeowners and homebuyers.

During the interview, Healy also touches on how low mortgage rates have contributed to an uptick in demand, which has created an inventory shortagethat has intensified homebuying competition.  

According to Healy, thriving housing markets like Dallas, Austin and Spokane, Washington are experiencing such a boom, that they can only be compared to the Wild Wild West. 

“I've never seen it this busy and I’ve never worked this much, and I'm not even talking from an ownership perspective, but just from being a realtor as well,” Healy said. “I've been through a bad cycle where you just kind of wait for the bottom to fall out, but this time it makes complete sense.”

“We're seeing competitive offer situations like we did back in 2007. It's extremely busy, especially in markets like Austin, Charlotte, DFW and you know, Spokane, Washington, which are like junior versions of LA, New York, Chicago and Miami,” he said. “It's been crazy. It's the Wild Wild West right now.”

The Daily Download examines the most compelling articles reported from the HousingWire newsroom team. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.

HousingWire articles covered in this episode:

·      Making sense of ultra-low mortgage rates

·      Driven by low inventory, median U.S. home price reaches record high in July

·      42% of people who bought homes during the pandemic engaged in a bidding war