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The $500,000-and-up went from 7% of the Austin/Central Texas single
family market a year ago to 12% in the last month! Continue reading
Much has been made in the press lately about the fall-off in home sales from June to July 2010, with home sales down 27% nationally. My first reaction is, “Duh!” Continue reading
The number of new contracts signed in May and June in the Austin Metro area were down significantly from the April peak created by tax incentives, but there is still residual demand. August data may tell whether a trend is developing. Continue reading
Statistics can be deceiving. When you read that a particular real estate market is a “buyer’s market” or a “seller’s market,” don’t assume that that adequately describes the entire market. Here is a look are the kind of variations that an “average” can conceal. Continue reading
Nationally, new home sales skyrocketed in June, compared to May. While one month does not make a trend, growth is good news. As usual, Austin is experiencing this recession differently than the hardest hit areas. Continue reading
An feature article in the Business section of today’s Austin American-Statesman highlighted a decline in home sales in the Austin area and growth in listing inventory. As noted by the Austin Board of Realtors the very small sales decline is really reason for optimism for the Austin/Central Texas real estate market. Consider listing inventory relative to current demand. Continue reading
Price it right! Properly priced homes seller faster and for higher prices than those that age — even for a few weeks — at above-market prices. Continue reading
In a previous post, I discussed variations in market behavior in the Austin metropolitan area, slicing the market only by home size. In this post I will discuss the importance of “location, location, location” as a vital factor in real estate.
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My clients, and those who follow my blog, know that I often describe the real estate business as “hyper-local.” I didn’t invent that term, but it applies spectacularly in this industry. This is the first in a series of blog posts that will discuss this differentiating fact about real estate from different perspectives.
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As I frequently do, I think it is important to provide an Austin/Central Texas perspective since our local and regional market has experienced the housing downturn and recession very differently than the five states where the worst impacts have been felt.
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Bill Morris on Austin Real Estate 