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The strength of the Central Texas real estate market continues …. Listing inventory is down, representing just a 4-month supply — solidly in seller’s market territory. The monthly unit sales pace is still about 20% lower than the peak of the market cycle in June 2006, but is almost 24% higher than the same month last year. Continue reading
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
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
I wrote yesterday about some million dollar homes that have sold recently in the Austin area. Here are a few that are still available. 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
The key “unknown” at this point is whether we have more volatility ahead. Locally and regionally, conditions remain good, but without a broader recovery in the national economy and housing sector, continued strong in-migration and the ability of those new Austinites to buy homes is more limited than it should be. Continue reading
Volatile. Unpredictable. Erratic. I have used all those adjectives to describe market conditions for Austin/Central Texas residential real estate over the past few months. They all apply, and 2011 will call for ongoing analysis and forecasting. New construction and newly issued building permits should give us a glimpse at the future, however. Continue reading
Bill Morris on Austin Real Estate 