February 2025 Market Update
January - February 2025
Two Months into 2025, and It’s Feeling a Lot Like… 2024?
So far, rental prices have remained steady, and days on the market are similar to last year. However, we’ve noticed some key shifts—new rental listings are down 18%, and leased properties are down 12%. This suggests that more tenants are opting to renew their leases rather than move, which is keeping inventory tight.
On the sales side, the housing market is holding steady, making it feel like real estate in Lubbock is in idle mode—for now.
As March kicks off, we’re seeing trends similar to February, with average daily closed leases and rent prices staying consistent. However, if history is any indication, we often see a surge in activity right after Spring Break—so now is the time to get ahead.
Tips to Get Your Properties Ready:
- Post-Dust Storm Cleanup – A clean property stands out, so make sure to wash away the Lubbock dust before showings.
- Tackle Improvements – If you’ve been considering upgrades, now’s the time. Fresh paint, minor repairs, and touch-ups can make a big impact.
- Landscaping Matters – Trim back overgrowth so the home’s best features shine through. A well-maintained yard adds instant curb appeal.
- Get the Grass Green, So You Can Make Some Green – A lush, inviting lawn can help attract tenants faster.
Stay ahead of the market—spring is just around the corner, and with it comes renewed demand.
Tariffs and Texas
Texas Tariffs: A Heavy Toll on the Lone Star State
By Dr. M. Ray Perryman
In a recent analysis, Dr. M. Ray Perryman, President and CEO of The Perryman Group, highlights the significant economic impact of sustained tariffs on Texas. He estimates that a 25% tariff on Mexican goods could result in an annual loss of nearly $36.4 billion in gross product and approximately 287,500 jobs for the state. Additional tariffs on Canadian and Chinese goods could further exacerbate these losses, totaling $51.7 billion in gross product and 410,000 jobs.
As a large economy and leading trading region, Texas bears a substantial portion of the national burden—more than any other state. Given Texas’s prominent role in international trade, these figures underscore the potential challenges ahead.
About Dr. M. Ray Perryman
Dr. Perryman leads The Perryman Group, an economic research and analysis firm based in Waco, Texas. He holds a BS in Mathematics from Baylor University and a PhD in Economics from Rice University. Throughout his career, he has authored several books and over 400 academic papers. He has been recognized with numerous awards, including being named Texan of the Year by the Texas Legislative Conference in 2012 and receiving the Baylor University Distinguished Service Medal in 2013. His firm has served more than 3,000 clients, ranging from major corporations to governmental entities. (perrymangroup.com)
I had the pleasure of hearing Dr. Perryman speak at the Texas Realtors’ winter meetings, and his presentation was refreshing in its non-partisan approach. It was a straightforward, honest assessment of the state of the economy—something that is all too rare these days.
For more in-depth analyses and updates, consider subscribing to Dr. Perryman’s free blog. His expertise offers valuable perspectives on the economic issues affecting our state and beyond.
Work with Coldwell Banker
Simplified Property Ownership
Managing investment properties involves a myriad of tasks, from tenant screenings and rent collection to maintenance and legal compliance. Our comprehensive property management services are designed to take these burdens off your shoulders. We handle everything, ensuring your properties are well-maintained and profitable, allowing you to focus on what matters most to you.
Expertise in All Property Types
Whether you own a single-family home or a multifamily apartment complex, our team has the expertise to manage a diverse range of properties. We understand the unique needs and challenges of different property types and tailor our services to meet those needs efficiently and effectively.
Clear and Concise Communication
One of the cornerstones of our service is our commitment to clear and concise communication. We believe that transparency is key to a successful partnership. You will always be kept in the loop regarding the status of your properties, tenant issues, financial reports, and any other pertinent information. Our goal is to ensure you have complete confidence and peace of mind, knowing that your investments are in capable hands.
Cutting-Edge Technology
In today’s fast-paced world, staying ahead of technological advancements is crucial. At Coldwell Banker Residential Property Management, we leverage the latest technology and systems to enhance our services. From online portals for easy access to property information and financial reports to advanced marketing tools that attract high-quality tenants, we use technology to streamline processes and maximize efficiency.
Service-Oriented Approach
Despite our reliance on technology, we never forget that we are, first and foremost, a service company. Our priority is to provide exceptional service to both property owners and tenants. We pride ourselves on being responsive, attentive, and dedicated to meeting your needs. Our team is always ready to go the extra mile to ensure your satisfaction and the smooth operation of your properties.
Partnering with Coldwell Banker Residential Property Management means entrusting your investment properties to a team of experienced professionals who are committed to simplifying property ownership. With our expertise, clear communication, cutting-edge technology, and unwavering dedication to service, we ensure that your properties are managed efficiently and effectively. Let us help you maximize the potential of your investment properties while providing you with the peace of mind you deserve.
Contact us today to learn more about how we can assist you in achieving your property management goals.
