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Like the rest of the Austin metro area, we will remain a fast-moving, under-inventoried housing market for at least the remainder of 2013, and probably for much of 2014. The flurry of activity in April 2013 may turn out to have been just that, however, a flurry. Nonetheless, I expect BV/S to remain a strong seller’s market for many months to come. Continue reading
The trend has been clear for several months, but this month one chart from my dashboard really tells you most of what you need to know about the Austin/Central Texas residential market …. In April, 46% of all active listings sold! Continue reading
If you’re in the market for investment properties in Austin/Central Texas, where should you concentrate? One approach is to go where most of the leasing activity is already happening. With that in mine, here is a quick look at the 20 MLS areas where the most new leases were signed in the past year. Continue reading
The big story in that chart is approved plans to build apartments and condominiums — almost 3X from 2011 to 2012 — a huge sign of confidence in continued growth and demand in the Austin metropolitan area! Continue reading
Ask almost anyone who has purchased a resale home this year (or tried to)! If you’re in the market to buy a home these days, don’t say “let’s go see it next weekend.” It may well be sold before you get there. Continue reading
Supply (active listings) is down 28% compared to last year. At the same time, Demand (sales) is up 16%. Predictably, in that market environment, sales prices are rising — to a $220,000 median, up 10% from March 2013. Continue reading
More than 99% of Texas is experiencing some level of drought, and about 90% of the state is in Extreme or Exceptional drought. The drought in all of Central Texas is rated Severe or Extreme. There is hope, though! This year the Texas legislature will finally fund the State Water Plan! Continue reading
Austin and Central Texas have experienced the recession differently than many other areas, but improvement elsewhere is certainly welcome and will be good for all of us. Continue reading
Following up on my post yesterday about the supply-and-demand imbalance (see Austin Market Dashboard), check out this from KVUE:
Almost no foreclosure activity makes Austin and most of Texas very different from what you read about in most of the national press. Continue reading
Bill Morris on Austin Real Estate 