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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
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
General economic uncertainty aside, I believe that buyers who stay on the sidelines over the next six to twelve months — especially in the Austin area — will find that they missed the best opportunity to become homeowners we have seen in many years.
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Even as chaotic market conditions still dominate press reports about real estate nationally, the Austin/Central Texas residential market continues to demonstrate fundamental strength. Sales volume is up for five consecutive months, and average and median home values have appreciated all year. Local and regional economic results and expectations are promising. Continue reading
Near the median sale price, we’re getting into “seller’s market” territory in many neighborhoods, but there is still a lot to choose from. Here’s an overview. Continue reading
The first thing you may notice is that this an over-inventoried market segmentThe difference in this high-end market segment, though, is that 126 available homes really isn’t that many in a metro area of 1.5 million people, and buyers in this segment may well be looking for THE house … Continue reading
Future market activity remains somewhat unpredictable, and much depends on the direction of the general economy and the nationwide real estate market. There is clear strength in the Austin/Central Texas market, though. Continue reading
Closed sales were down from May 2010 to May 2011, but the most immediate measure of market demand clearly shows improvement. Anecdotally, my business and that of most real estate professionals that I talk to indicate that the pace of market activity is up, and there is plenty of support in local economic reports to expect that we really are on the way to more consistent growth. Continue reading
The year-to-date sales trend this year is encouraging, even if volume is below 2010. In addition, average and median sale prices continue to ease upward. These are NOT the market conditions we read about in the national press. Continue reading
One of the ongoing services I offer my clients is assistance every year with market information needed to protest proposed new tax values. This year one provided a great example of how widely values can vary within a single market area.
Bill Morris on Austin Real Estate 