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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
In What About Downtown? I used recent sales prices on a per-square-foot basis to compare the downtown Austin area to other parts of the metropolitan area, and the contrasts are striking. Price per SF can be an interesting yardstick for large comparisons, and I am asked about it frequently, but it is not a good … Continue reading
In 2016 in Review and Price Variation Around Austin I discussed sales of Single Family Homes (houses) in many areas of the Austin metro area. I did not mention Downtown Austin in those posts because that are very few houses in the area. I’ll fill in that blank here. Between July 1, 2016 and December … Continue reading
In 2017 Outlook I promised to provide more information about how much home prices can vary from one area to another around the Greater Austin area. I won’t get down to neighborhood-specific market activity in this post, but looking at the 5-county metropolitan area in pieces will paint a fairly complete picture. As a starting … Continue reading
