May Class Calendar

Republic Title is pleased to offer a variety of continuing education classes for our customers. Join us in May for classes including:

LIVE Listing Presentations using Cloud CMA
With Cloud CMA Live you can command the room (whether it’s in person or on the computer) with confidence by creating virtual listing presentations your clients will love! This class will show you how Cloud CMA Live will help you make a great impression with your clients, easily establish yourself as the neighborhood expert, and win more listings (virtually)!
May 3rd
10:00 am – 11:00 am

Home Surveillance – Legal Issues
Join us for this class which focuses on the specifics of home surveillance and potential legal issues that arise from unlawful recordings of video or audio or both when an agent is showing a house or listing a house.
May 4th
10:00 am – 11:00 am

TREC Legal Update II
Material mandated by TREC – Ethics/Fair Housing/Anti-Discrimination/Hot Topics/Court Cases.
May 10th
10:00 am – 2:00 pm
Republic Title Uptown

Digital Delivery with Docusign®
DocuSign® makes it easy to streamline your business and go paperless. This hands-on class covers the basics of DocuSign®, showing you how to easily sign and send documents from anywhere.
May 11th
10:00 am – 12:00 pm

Target Professionals using LinkedIn
With nearly 700 million members across the world, LinkedIn has changed the way professionals connect with their colleagues and network for business. With one in three professionals active on LinkedIn, you are sure to engage in meaningful business connections and generate leads when you use LinkedIn. Join us to learn how to become a proficient user, how to grow your connections and how to leverage LinkedIn in your real estate business.
May 17th
10:00 am – 12:00 pm
Republic Title Southlake

The Ins and Outs of the Residence Homestead Tax Exemption
The objective of this course is to provide a complete understanding of the homestead tax exemption. The class will cover: how the homestead exemption impacts the value of property for the calculation of property taxes; how and when to apply for the homestead exemption; the impactions of the over-65/disabled persons exemption on property taxes; how to transfer the over-65/disabled persons exemption when moving homesteads; and how the homestead exemption is used when located with agricultural property.
May 17th
10:00 am – 11:00 am
Republic Title Prosper

Top Ten Contract Addenda
Join us to review 10 of the most commonly utilized TREC contract addenda including Third Party Financing Addendum, Addendum for Backup Contract and more.
May 24th
10:00 am – 11:00 am

Triple Your Repeat & Referral Business
The goal of this course, provided bay Darian Rausch, is to provide real estate professionals with the information needed to build their repeat and referral business by building trust in customers, clients, and fellow agents. Agents will learn how to work leads to generate more leads, transition from passively accepting occasional referrals to a pro-active referral mind set, and make the connection between their “brand” and referral success.
May 24th
1:00 pm – 3:00 pm

To see a current list of available classes and to register, please visit


March 2022 DFW Area Real Estate Stats

March stats are here and we have the numbers! 

The Spring selling season is underway, and the market reflects that with new listings up in all five counties, though they are just slightly down from March 2021. The average days on market continues to drop each month and averages 21 days in Collin, Dallas, Denton, Rockwall, and Tarrant Counties. While the prices for single family homes continues to climb to staggering highs; with the highest average being Collin County, coming in at over $600k, up from $462k in 2021, and $386k in 2020. WOW! (please note that March 2022 is the first month of the NTREIS reporting area change, so the data with MLS area information is no longer available for reporting. For more information on the change, visit here:…)

Our stats infographics include a year over year comparison and area highlights for single family homes and condos broken down by MLS area. We encourage you to share these infographics and video with your sphere.

For more stats information, pdfs and graphics of our stats including detailed information by MLS area and condo stats, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.


Texas Housing Insight 2021 Annual Summary

The Texas housing market was strong for most of 2021 as mortgage interest rates remained low throughout the year. Sales accelerated, and the average home price increased. Demand remained robust as households desired additional space and better neighborhoods. On the other hand, while new listings increased in 2021, the pace wasn’t enough to keep up with demand, particularly for listings in the lower price cohorts. Housing starts increased drastically in the first half of the year but slowed during the second half due to stubborn supply chain issues and mounting backlogs. In a strenuous and uncertain economy, the housing market was defined by shrinking supply and strong demand, putting upward pressure on the housing market, increasing home prices across the state.

Many of the same factors that defined the 2021 housing market will carry over into the new year, namely constrained inventory, which should maintain elevated price levels despite a slowdown in price growth. Nevertheless, Texas Real Estate Research Center economists expect single-family sales to increase 6.2 percent in January 2022. New variants of the virus present ongoing challenges and uncertainty, but the economic and housing outlook has remained positive. Rising mortgage rates will likely slow sales, but an increasing population and limited inventories should sustain home prices for the foreseeable future.


The Texas Residential Construction Cycle (Coincident) Index, which measures current construction activity, increased nationally and within Texas due to strong demand for housing. The Texas Residential Construction Leading Index (RCLI) reached a peak in April with an increase in weighted building permits and residential construction value starts combined with declines in the ten-year real Treasury bill. The trend, however, reverted downward at both the state and major-metropolitan levels, indicating slower activity in the beginning of 2022. Supply-chain issues weighed on construction activity and remain a significant challenge in coming months.

In response to supply shortages and despite the challenges of COVID-19, developers accelerated activity at the earliest stage of the construction cycle. According to Zonda, the number of new vacant developed lots (VDLs) in the Texas Urban Triangle, which encompasses the state’s major Metropolitan Statistical Areas (MSAs), elevated 8.2 percent annually in 2021 to 126,000. Austin led the state with an 18.2 percent increase over the previous year, and Dallas-Fort Worth (DFW) followed with a rise of 13.1 percent. San Antonio VDLs rose 7.9 percent, while the Houston metric increased incrementally by 1.9 percent. While these efforts should ease pressure on the overall housing market, it will take a much larger response to raise supply to meet the demand. 

Strong lot development was matched by a record 173,000 single-family housing construction permits issued in Texas. The statewide metric rose 11.2 percent over the previous year despite soaring lumber and input costs resulting from global supply constraints. Houston and Dallas topped the charts for the year, issuing over 52,100 and 48,400 permits, respectively. Austin and San Antonio both saw strong gains, issuing 24,356 and 13,862 permits, respectively.

Total Texas housing starts began the year with strong growth; however, the pandemic disrupted typical seasonal trends with permit issuance. Lumber prices were elevated in early 2021 and skyrocketed in May. Though prices dropped off somewhat by August, they ended the year 18.6 percent higher than 2020. Regardless, per Zonda, single-family starts in the urban triangle rose 21.2 percent over 2020 due to huge increases for homes slated to sell for $300,000 or more. Starts of homes priced at more than $500,000 surged 94.7 percent over the year. Starts at the low end of the price spectrum ($200,000 and less) decreased 71.9 percent. Limited supply in the lower price cohorts shifted the contribution of sales more toward the higher-priced categories. Construction focused more on high-end homes due to elevated material costs leaving less room for profit in lower-priced categories. All major metros saw double-digit increases in housing starts. San Antonio and DFW sustained strong growth with 29.6 and 28.3 percent increases, respectively, while Austin saw a 22.9 percent surge. Meanwhile, Houston posted a 12.6 percent increase, much lower than the other major metros.

Steady sales and depressed new Multiple Listing Service (MLS) listings pulled Texas’ total months of inventory (MOI) to an average of 1.6 across all price cohorts. A total MOI of around six months is considered a balanced housing market. Houses in the $200,000-$299,999 price cohort fell to one MOI throughout the year, dipping at its lowest to 0.8 MOI. Even homes priced above $500,000 dropped to 2.4 months compared with 2.9 months the previous year as constrained supply at the lower end of the price spectrum pushed buyers toward higher-priced homes. 


Texas reported 417,050 total housing sales through MLS in 2021, increasing over 6 percent annually. With the robust demand and constrained inventory in the lower price cohorts, more consumers competed for houses priced between $300,000 and $399,000. Sales in this price cohort reached an all-time high, jumping 40.02 percent annually, with the bulk of the increase a result of the second quarter. On the other hand, sales for luxury homes (priced more than $500,000) also broke the record, ascending at double-digits in percentage terms amid the expanded supply.

Houston led the urban triangle in home-sale growth at 11.8 percent. San Antonio and Austin followed with 4.6 percent and 2.5 percent sales growth, respectively. Contrary to the other metros, Dallas and Fort Worth sales balanced after reaching historical highs in 2021 as low inventories limited market activity.

The market share for metros in the Texas Urban Triangle shifted year to year. This percentage split shows how sales in one metro are growing or shrinking compared with other major state metros. In 2021, Houston had the biggest market change with a 2 percent YOY increase, up to 27 percent. The market loss was distributed to Dallas and Fort Worth, which decreased to 18 and 9 percent, respectively. Meanwhile, Austin and San Antonio remained stable at 10 percent market share.

According to the U.S. Census Bureau’s Current Population Survey/Housing Vacancy Survey, homeownership in Texas normalized to 64.2 percent over the year compared with the national rate of 65.5 percent. Homeownership rates decreased annually at the metropolitan level, but were still higher than 2019 values. The rates in Austin and DFW rolled back 3 percent, falling to 62.4 percent and 61.8 percent, respectively. Houston’s metric ticked down to 64.1 percent, while 62.7 percent of San Antonio’s total housing units were owner-occupied. The decreased rate may be because of rising cost of homes across the board coupled with scarce housing options in the lower price categories typically associated with starter homes, leading potential buyers to rent instead.

Amid record-breaking sales activity, Texas’ average days on market (DOM) dropped from 47 days in 2020 to 34 days in 2021. The sellers’ market was hottest in July when the DOM plummeted to 26 days. Corroborating robust housing demand, Dallas and Fort Worth’s DOM sank to 29 and 28 days, respectively. Austin remained the most demanded metro, with homes averaging just 25 days on the market. Demand grew stronger in San Antonio with a 12-day decrease in the DOM, converging with the state average. The Houston DOM remained above the state averagebut still fell to 37 days.

The Federal Reserve is expected to accelerate the tapering of assets purchases and increase the Federal Funds rate at least two to four times in 2022, reflecting rising interest rates. The ten-year U.S. Treasury bond yield ticked up 55 basis points in 2021, averaging 1.5 percent. Meanwhile, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate fell to 3 percent. Notably, both bond and mortgage rates started rebounding after August, counterbalancing the inflation surge. Mortgage rates for conventional mortgages plummeted below 3 percent within Texas, highlighting a year of unprecedented low levels. Mortgage rates plunged to 3 percent for non-government-sponsored-enterprise (GSE) loans while the median mortgage rate for GSE borrowers diminished to 3.2 percent (GSEs include Fannie Mae and Freddie Mac). Mortgage application counts declined drastically in 2021. During that period, the number of refinance applications shrank 27.1 percent SAAR, while purchase applications shrank by 12.6 percent. Amid the reduced mortgage rate and bolstered home prices, average loan sizes decreased 2.6 percent for refinance applications, and the sizes increased 15.3 percent for purchase applications. (For more information, see Finding a Representative Interest Rate for the Typical Texas Mortgagee.)

Tightened lending standards continued with the strong housing demand. The debt-to-income ratio (DTI) constituting the “typical” Texas non-GSE mortgage decreased to 35.9 in 2021. Relief actions taken by the federal government and lenders helped some households pay off debt and save money. This helped push borrowers’ median credit score to a multidecade high of 749 The median loan-to-value ratio (LTV) dipped to 85.3 percent for non-GSE borrowers, leaving borrowers with a maximized loan value that’s 2.2 percent less with the same home equity value, while the GSE metric flattened at 85.4. The DTI for GSE borrowers, on the other hand, ticked up, inching up from 35.6 to 36.


Texas’ median home price rose for ten consecutive months, reaching a record-breaking $300,000 and appreciating at an astonishing rate of 15.6 percent annually. All five major metros all hit record-high median prices in the last months. The ongoing shift in the composition of sales toward higher-priced homes due to constrained inventories at the lower end of the market boosted the average and median home price. The share of luxury homes sold in Austin surged, pushing the median price ($450,000) by a notable growth of 30.8 percent YOY. The Dallas metric ($365,000) increased 17.4 percent, while annual price growth in Fort Worth ($309,000) shot up to 18.8 percent. Houston’s ($300,000) and San Antonio’s ($284,900) metrics increased to 15.4 and 14.4 percent, respectively.

The Texas Repeat Sales Home Price Index accounts for compositional price effects and provides a better measure of changes in single-family home values. Compared with December 2020’s 8.3 percent YOY increase. Texas’ index corroborated significant home-price appreciation, accelerating 19.5 percent YOY in 2021. The rate of growth surpassed the surge in the median home price. The repeat sales index also accelerated in all of the major metros. Austin stood above the rest, posting a 34 percent increase YOY. DFW and San Antonio saw their index rise 18.4 and 15.4 percent, respectively. Meanwhile, Houston had the lowest gains but a still strong 12.4 percent. Increasing home prices pressured housing affordability, decreasing Texas affordability advantage compared with past years.

Single-Family Forecast

Texas sales in January 2022 are expected to increase 6.2 percent over December 2021 (Table 1). On the metropolitan level, transactions are expected to drop across the board, but San Antonio is expected to decline the most. Except for Dallas, year-end home sales were greater in 2021 than in 2020.

Household Pulse Survey

According to the U.S. Census Bureau’s Household Pulse Survey, the share of homeowners behind on mortgage payments shrank both at the national and state levels compared with year-ago numbers (Table 2). Remarkably, the portion of Texas homeowners free and clear of a mortgage rose 2.9 percent, corroborating the effect of reduced mortgage rates and a recovered economy. Likewise, homeowners claiming the risk of foreclosure as “not likely” increased significantly from 8.5 percent to 27.5 percent. The proportion of delinquent individuals at risk of foreclosure in the state fell to only 0.3 percent. The Federal Housing Finance Agency’s foreclosure and REO eviction moratoria for properties owned by Fannie Mae and Freddie Mac (the Enterprises) expired Sept. 30, 2021. Continuing the stability and current trend in reducing delinquent homeowners’ mortgage payments is essential to Texas’ economic recovery.


* All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month over month, unless stated otherwise.

Source – Joshua Roberson, Wesley Miller, Weiling Yan, and John Shaunfield (Apr 6, 2022)


Paragraph 12: The Most Overlooked Paragraph in the TREC 1-4 Contract

At closing, a seller or a buyer might be caught off guard by all the fees that are not part of the sales price but they are part of the contract.  It is important to set your clients expectations from the beginning of the transaction and highlight the additional fees they will likely incur at closing. 

There is often a lot of confusion about the owner title policy and the loan title policy.  When paragraph 6 reflects that the seller will pay for the owner title policy, the buyer might show concern when they see all these title charges on their closing disclosure or settlement statement.  It is their understanding that the seller is paying for the title charges.  Well these title charges, however, are actually reflected in the contract which the buyer has presumably read, understood, and agreed to.  In Paragraph 12, the buyer has agreed to pay for the loan policy with all the endorsements required by the lender along with other charges and fees most of which are lender fees.  Paragraph 12 also informs the seller of their obligation to pay for releases of existing liens, possible prepayment penalties, recording fees, release of seller’s loan liability, tax statement certificates, preparation of the deed, and one half of the escrow fee and other expenses that the seller is obligated to pay under the contract. 

Remember when you sit down with your clients and you’re about to accept or make an offer, point out paragraph 12 to inform them about the additional expenses.



April Landscape & Gardening Tips & To-Dos

Need help planting a successful garden or landscape? Here are some April planting tips from the Dallas Arboretum horticulture staff and the Dallas County Master Gardeners that can help keep your home garden looking beautiful this Spring. Plant care should be your focus in April. 

  • Begin planting summer annuals, such as lantana and pentas (sun) and begonias and coleus (shade), as they become available at local nurseries. Some summer tropicals may also be found in nurseries toward the end of April
  • Now is great time to plant new perennials in your garden. Make sure to select plants that are right for your zone. Consult nursery professionals if you are uncertain.
  • Continue planting new trees and shrubs. Don’t forget to fertilize new plantings.
  • All summer veggies and herbs can be planted this month.
  • Continue sodding and seeding lawns. As the temperatures warm, make sure sod stays moist until it begins to root out.
  • Continue any tree and shrub pruning to reshape old and new growth.
  • Continue pruning and reshaping any spring blooming shrubs and vines after they finish flowering.
  • Continue fertilizing lawns and prepare to start mowing if you haven’t already.