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Volatile. Unpredictable. Erratic. I have used all those adjectives to describe market conditions for Austin/Central Texas residential real estate over the past few months. They all apply, and 2011 will call for ongoing analysis and forecasting. New construction and newly issued building permits should give us a glimpse at the future, however. Continue reading
Despite ups and downs over the past year, we saw the lowest average home sale price in seven months in January 2011. On the other hand, the average price in January 2011 was up 5.2% compared to one year earlier — much stronger than even the strongest of the Case-Shiller cities. Continue reading
The February market snapshot shows mixed results, but important point of emphasis regarding the Austin/Central Texas residential real estate market remains remarkable strength in property values. Continue reading
The strength of current gross rents, and the stability in multifamily pricing for most of last year, suggest that we have seen the bottom of this cycle. New project announcements and building permits for multifamily construction (including substantial additions to the inventory of available apartment units) show that large investors and developers are betting on coming growth. Now is the time for smaller investors to take advantage of the trend as well. Continue reading
Austin was one of only two cities to experience positive growth in both prices and unit sales over this 12-month period. Austin’s 5% increase in median price was below the 7.8% average rate of increase since 1990, but still a strong performance. Couple that with growth in unit sales of more than 3x the national average, and this is really impressive. Continue reading
A couple of weeks ago I wrote about the strength and optimism of the multifamily residential market in the Austin/Central Texas market. I promised to keep an eye on this and report further news. Today, this article indicates the same kind of confidence nationally.
I have written frequently over the past year or so about many analyses in which Austin ranked at or near the top in terms of economic strength. This Chamber report includes some details of growing employers that I have not seen summarized in one place previously.
The Austin Chamber of Commerce posted an interesting report today based on the Texas Manufacturing Outlook Survey. The outlook is optimistic. I want to comment on just a couple of charts from the Chamber’s article, and one from the source report.
Continue reading
Throughout the recession and housing downturn I have been writing about how different the Austin/Central Texas experience has been from national press stories on the economy. In less than four minutes, this video hits all the high points of what I’ve been saying all that time. Rock on! Austin Rocks!, posted with vodpod
In early February I wrote about rising rents and planned construction in the Austin/Central Texas multi-family residential sector. This morning’s Austin American-Statesman featured an article showing specific evidence of that confidence.
Bill Morris on Austin Real Estate 