Just after I posted Trends to Watch, commenting on changes in the Central Texas real estate market, I found a very good article from Inman in my inbox that covers the national outlook:
Inventory is rising, home prices could flatten in 2019
But don’t expect homes to get cheaper anytime soon with demand remaining high
Strong demand in the Austin area is preventing real inventory build-up, but prices flattening here in the coming year or two may well be a fact. Our Months’ Supply metric was 3.0 months in September 2018, the same as September 2017 and only slightly higher than 2.8 months in September 2016. Moreover, all other monthly inventories were consistently lower in 2018 versus the same month in 2017.
There was also a related article in this morning’s Austin American-Statesman:
Home prices in the city of Austin’s are pushing buyers farther and farther into the suburbs, and availability of build-able residential lots and permitting processes in some areas have slowed building starts.
The issues highlighted in both of these articles will remain important in the months to come, and I’ll keep an eye on them.