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Our market absorption rate has dipped over the past couple of months, but this is the fiirst time since 2005 that we have seen this metric bouncing around the long-term average of 21% rather than a much lower level. With continuing uncertainties in the U.S. political and economic scene, and in the world economy, these Winter months may remain a little soft, but if history is an indication then we are poised to enter a new growth phase in the local real estate market. Continue reading
Austin’s Gross Metropolitan Product grew 6.97% in 2010 — impressive performance, placing Austin 2nd among the 50 largest local economies. Continue reading
Clear Capital recently issued its latest report on the residential real estate market in the United States, including lists of the highest and lowest performing major metropolitan areas. Here’s how Austin compares. Continue reading
If you like Wells Branch, you’ll love this property! Have a look. Continue reading
More than 3 1/2 million acres have burned in Texas this year, and just in the Austin area something more than 800 homes have been destroyed in the past few days! There’s also plenty of hurricane damage and flooding for others to deal with. Let’s all pray and keep those affected in our thoughts! Continue reading
Investors and developers are considering significant projects in Downtown Austin … a great demonstration of their confidence in Austin’s future. Continue reading
Despite personal adversity, my friend and client keeps moving forward, and now he’s building a house for free to help a neighbor! A great story. Continue reading
There’s no way to put lipstick on this and improve the national picture. The housing industry is troubled and is likely to remain so for some time to come. But I encourage folks who already own homes in Austin, or plan to, to keep the faith. Our fair city’s performance remains much stronger than national news stories will lead you to believe. Continue reading
7 out of every 8 homeowners in this market sample never listed their homes for sale before they were taken in foreclosure! Don’t be one of those 7-of-8 folks! Continue reading
There is every reason to expect some seasonal softness in unit sales and prices in the coming months, but as I mentioned at the outset the Austin/Central Texas economy remains resilient. Economic strength continues to attract employers and employees to move here, that trend is filling available rental space and pushing rents upward, and as those new Austinites either sell homes elsewhere or just gain confidence in their futures they become Austin-area homeowners. Continue reading
