I'm only 2 weeks into hrt now, so....
I am noticing that a bit of fat appears to be depositing into where my boobs will be. I swear my waist is ever so slightly smaller and my butt is getting a little bigger/rounder. Just enough that I know there's a little change going on there. So far my hips remain unchanged and a little fat is going into my cheeks.
Of course all of this is very, very subtle but stuff is happening!

Edit: upon closer inspection, I do have a layer of squishy feeling skin over my hips, and it wasn't there before. I still don't see any change in the size of them though.
Also I have stretch marks now! Those are new and I do hope they go away!