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Market economists remain confident in our strong market conditions through 2019 and into 2020, and I agree. Inevitably, however, we will see prices moderate, interest rates increase, “days on market” grow, and inventory begin to catch up with demand. Continue reading
I have written recently that we might be seeing some signs of movement in the direction of more normal market conditions. The latest local data seems to reinforce that opinion. Continue reading
Monthly prices have been consistently exceeding (and lifting) the long-term trend for all of 2 1/2 years now. If there is risk in our market that may be it, but if buyers begin to resist then sellers will adjust. Our very long market boom has been and remains driven by job creation and resulting population growth, but a functioning market will balance itself over time. Continue reading
I have heard recent comments from a few real estate agents that the market seems slower this year. I have “felt” something different in recent weeks myself, but I trust data so I decided to check on that from 30,000 feet … Continue reading
Here’s an updated look at the overall distribution of residential sale prices across the Austin metropolitan area. Continue reading
Expect inventory constraints to remain with us in 2018, and for high demand to continue. Some geographic areas and price ranges will experience this differently, but it looks like another wild ride ahead this year. Continue reading
In “2017 Outlook” I provided links to several viewpoints on the Texas and Austin-area economy and housing market. As I mentioned at the end of that post, last week I attended a presentation by Mark Sprague (Director of Information Capital, Independence Title) to hear his projections. An important theme of the presentation was “disruptive change,” in … Continue reading
Market-wide price changes are the result of changes in the distribution of prices across many price ranges. Here’s a look at how the price distribution for homes sold in the Austin metropolitan area have changed. Continue reading
The real world of our fast-paced real estate market in Austin makes this post a couple of weeks later than I planned, but following up on my recent summary of Angelou Economics view of our community, I want to add a quick look at the residential market specifically. If you have attention to local media … Continue reading
There is a difference between home prices being bid up to unrealistic levels through shear speculation, and the way Central Texas home values are being driven by real supply and demand forces, supported by strong employment and population growth and buying power provided by a still very conservatiove mortgage lending industry. Continue reading
Bill Morris on Austin Real Estate 