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Demand to live in the Austin area remains high, but home sales are limited by very low supply. Prices are rising faster again. Here are some details. Continue reading
We talk a lot about market-level home sales and prices. This post looks below that level at changes over the past 10 years in the Austin-area market by price range. These are important chanages. Continue reading
I continue to expect some flattening of the Austin-area market in 2019, but January and the first quarter will tell us whether December’s drop was just exaggerated holiday seasonality or a sign of more to come. Continue reading
Monthly prices have been consistently exceeding (and lifting) the long-term trend for all of 2 1/2 years now. If there is risk in our market that may be it, but if buyers begin to resist then sellers will adjust. Our very long market boom has been and remains driven by job creation and resulting population growth, but a functioning market will balance itself over time. Continue reading
Jim Gaines, chief economist at the Real Estate Center at Texas A&M University, said the June sales dip is not an indication that the Austin-area housing market is cooling off. Continue reading
I have heard recent comments from a few real estate agents that the market seems slower this year. I have “felt” something different in recent weeks myself, but I trust data so I decided to check on that from 30,000 feet … Continue reading
Increased weighted building permits and housing starts accelerated the Texas Residential Construction Leading Index (RCLI) to its highest level since April, signaling improvements in residential construction activity through year end. 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
There are significant variations in pricing within each county where most of the metro population lives, but there are cities in each county where a below-$200,000 purchase is still realistic. Continue reading
Market-wide price changes are the result of changes in the distribution of prices across many price ranges. Here’s a look at how the price distribution for homes sold in the Austin metropolitan area have changed. Continue reading
Bill Morris on Austin Real Estate 