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Much has been made in the press lately about the fall-off in home sales from June to July 2010, with home sales down 27% nationally. My first reaction is, “Duh!” Continue reading
It may be that a comprehensive survey of home builders in the Austin area will show that they lost confidence in August, just as reported nationally. The builders I talk to, however, while cautious, aren’t waiting for the sky to fall, and this recent market performance is relatively positive given conditions in other places. Continue reading
The national press continues to highlight “opportunities” in real estate markets that have been hit hardest by the recession. I continue to get calls from prospective investors who expect the same market conditions in Austin and Central Texas. The good news is that Austin is different. The bad news is that Austin is different. It’s all a matter of perspective. Continue reading
Texas has not felt this recession and housing downturn in the same way that California, Arizona, Nevada, and Florida have. This article from Tierra Grande magazine focuses on the housing affordability factor and offers some important insights. Continue reading
The number of new contracts signed in May and June in the Austin Metro area were down significantly from the April peak created by tax incentives, but there is still residual demand. August data may tell whether a trend is developing. Continue reading
Again, thank goodness that mortgage lenders have decided they prefer working with borrowers who are likely to make their payments. This pendulum is swinging WAY too far in the other direction, though. Continue reading
Statistics can be deceiving. When you read that a particular real estate market is a “buyer’s market” or a “seller’s market,” don’t assume that that adequately describes the entire market. Here is a look are the kind of variations that an “average” can conceal. Continue reading
The U.S. Bureau of Labor Statistics released five-year private sector employment statistics this morning (Texas cities hold top four job-growth spots), and I was pleased to see that the Austin metro area ranked third … Continue reading
Year-to-year sales performance in the Austin metro area does not show the kind of growth reported nationally, but there is a lot to be thankful for in this market area, and plenty of reason for optimism for the future. Continue reading
Nationally, new home sales skyrocketed in June, compared to May. While one month does not make a trend, growth is good news. As usual, Austin is experiencing this recession differently than the hardest hit areas. Continue reading
Bill Morris on Austin Real Estate 