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Austin has continued to attract employers and employees over the past several years, and conservative home equity lending laws prevented much of the price run-up experienced in places like California. I’m pleased to call Austin home for many reasons, and our experience with this most recent recession is just one. Continue reading
The Austin-area real estate market has turned the corner. We’re clearly into a new growth phase. As evidence, here’s a quick summary of the past few years’ home sales: We have experience 22 consecutive months of year-over-year sale growth, and very significant growth in most of those months: Moreover, it’s worth noting that even filtering … Continue reading
Home sales grew by 20% last year. At the same time, the number of homes for sale declined by 21%. There is a growing number of buyers chasing a shrinking number of homes, and prices are going up. Continue reading
This data shows why the average price of about $278,000 in “Austin” is not especially helpful in more specific discussions of property values. You can also see why my answer to “What’s the price per square foot in Austin?” is always, “It depends.” Continue reading
All of the proportional sales growth in this market over the past 10 years has happened above $250,000, and the fastest growth was above $400,000 — even though the median price remained below $200,000 until last year. Pay attention to the difference between average price growth and actual value appreciation. Continue reading
In Austin, there are no mixed signals. Living and working here, you can feel the growth. The pace of the real estate market feels like 2006 again, and maybe even a little more frenetic! My Austin Market Dashboard helps to explain 2012, and gives us a glimpse into 2013. Continue reading
Even in one of the hottest metropolitan market areas in the country, there are huge variations in market conditions. Don’t read one article or watch a video about the seller’s market in Austin and assume it describes your property, or a property you may want to buy. Real estate is still very much a hyperlocal business, and you deserve detailed, professional consultation about your specific situation. Continue reading
I am genuinely encouraged by the trend shown by the Case Shiller indices and I hope and believe that the recovery will gain real traction this time. Continue reading
An open letter from RE/MAX chair to presidential candidates …. Continue reading
Looking at all sales adds high and low price extremes that were not in the sample a few days ago of sales near $200,000. This data shows even more clearly the huge variations around the metro area — Sold Price/SF in today’s sample ranges from $13 to $992! Continue reading
Bill Morris on Austin Real Estate 