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Market News and Trends

Austin strong and in demand

If you live in Austin this won’t surprise you, but this article appeared today in RISMedia. It’s more than two years old but apparently is still in demand by readers, and in my estimation still accurate at least as far as Austin is concerned:

5 Cities Millennials are Flocking To

The fact that this has been a large part of Austin’s growth for several years is also a large part for the imbalance we’ve seen in the supply of homes for sale versus the demand for more. Moreover, the lifestyle and home preferences of many millenials influences what kind of home they’re looking for and where they want to live. The tension between single family home owners and millenials’ desire to live a more “lock and go” life closer to the central city is a driving force in the ongoing debate over a new land development code for Austin.

I have also told you that the pace of year-over-year home price growth has slowed and “days to sell” has grown in some market segments, but that I expect strong market conditions to continue for at least another year or two. (And I don’t see a sharp market correction even then unless events elsewhere cause significant changes.) These recent articles support that outlook:

Economist: 2020 looks ‘really strong’ for Austin economy

Austin economy slowing, but still strong

I remain bullish on Austin despite our growth-driven issues — housing supply, housing affordability, and transportation and mobility concerns at the top of the list. This is still a great city, and I would much rather be working through those problems than with stagnation and shrinking demand and population.

About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.


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