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Here’s an updated look at the overall distribution of residential sale prices across the Austin metropolitan area. Continue reading
Expect inventory constraints to remain with us in 2018, and for high demand to continue. Some geographic areas and price ranges will experience this differently, but it looks like another wild ride ahead this year. Continue reading
Increased weighted building permits and housing starts accelerated the Texas Residential Construction Leading Index (RCLI) to its highest level since April, signaling improvements in residential construction activity through year end. Continue reading
If all new Austinites purchased single family homes from 2006 to 2017, then we would have been more than 81,000 units under-supplied! Continue reading
Calendar year 2017 was unusual — mostly for its similarity to the previous few years in limited residential real estate inventories. It was the fifth year in a row with housing supply at or below half of what most market economists consider “normal” or “balanced.” Austinites have come to understand “seller’s market” in a very … Continue reading
The most important feature of the current market cycle is that listing inventory has been at or below 3 months’ supply for virtually all of the past 5 years. This has been the longest-lasting “seller’s market” on record. Continue reading
It’s no surprise that home prices have been going up in the Austin area, especially during the past 5 years. It’s also no surprise that the trend is more pronounced the closer you get to Central Austin, but average prices tell more of the story than the median. Continue reading
If you own real property in Texas, you have probably received your 2017 Notice of Appraised Value. If you haven’t, it won’t be long. Question: What does that Notice tell you? Answer: The appraisal district’s estimate of the market value of your property as of January 1, 2017. If you have exemptions, it will also … Continue reading
In “2017 Outlook” I provided links to several viewpoints on the Texas and Austin-area economy and housing market. As I mentioned at the end of that post, last week I attended a presentation by Mark Sprague (Director of Information Capital, Independence Title) to hear his projections. An important theme of the presentation was “disruptive change,” in … Continue reading
Mortgage interest rates have been very, very low for most of 10 years now. Rumors have come and gone many times that rates would increase soon, raising concerns among prospective home buyers, and sometimes spurring short flurries of purchases. With news this week that the Federal Reserve has raised the “Fed Funds Rate,” we’ve already seen … Continue reading
Bill Morris on Austin Real Estate 