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The good news is that the “odds of selling” rebounded nicely last month. One month does not make a trend, but unless tax incentives have accelerated too much of what would have been Summer demand, we should see solid sales performance in our market in the next few months with modest increases in sales values. Continue reading
News reports about the national economy and the national real estate market should be the starting point for analysis, not the end. Of course, we are susceptible to some national trends, but we also have our own local and regional strengths. Just like some companies fail while others thrive in difficult times, local and regional economies have comparative advantages and disadvantages, and optimism for the Austin/Central Texas area has been widely reported. Continue reading
We all read and hear so much bad news about the national real estate market that keeping a realistic perspective about the Austin/Central Texas area is difficult. The average sale price in December 2009 was about 4% higher than in January 2008, and the median price increased about 2% during that same two-year period. Continue reading
Two months of consecutive decline is worrisome, and even Austin and Central Texas participated in this weakness. As always, I the movement of the Austin Metro real estate market on my AustinMarketDashboard, and the decline is visible there, as is the usual price weakness that accompanies weak demand. Average home prices in Austin have now been below the long-term trendline for more than a year. Continue reading
Austin and Central Texas remain in a very strong position, not only to weather the continuing national economic storm, but to attract new growth and jobs and investment even as the rest of the country works through a very difficult recovery. Continue reading
Even with sales soft, however, Austin area prices have held their own, and continued to increase slowly in some important market segments. Continue reading
If you or someone you know is going through this devastating situation, please have them call me. I would love to help them get past this and begin to put their financial lives back together. Continue reading
Austin is still in a much better place than the states that saw the most serious declines in home values over the past couple of years. Here too, though, this problem will likely get worse before it gets better. Continue reading
NOW, we have tax incentives and very low interest rates and seasonally low home prices. LATER, tax incentives will expire (contracts after April 30) and interest rates and home prices are likely to increase. Continue reading
Austin’s real estate market remains a significant bright spot among many U.S. metro areas that continue to struggle. I trust this recap will be informative, and helpful as you consider the current market position of your Central Texas home, or your plans to purchase a home. Continue reading
Bill Morris on Austin Real Estate 