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The Case-Shiller indices have been losing ground year-to-year for several months. For much longer — about sixteen months — both Austin and Washington, DC have been gaining. And look at the magnitude of those gains — Austin vs. Washington! Yes, Washington home values have appreciated more than Austin since 2000, but it would have been very easy for five of those years to pay more for a home there than the current market would yield. Not so in Austin.
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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 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
The February market snapshot shows mixed results, but important point of emphasis regarding the Austin/Central Texas residential real estate market remains remarkable strength in property values. Continue reading
In early February I wrote about rising rents and planned construction in the Austin/Central Texas multi-family residential sector. This morning’s Austin American-Statesman featured an article showing specific evidence of that confidence.
Times and markets may have changed in recent years, but the benefits of being a home owner rather than a renter are still the same. (And it’s a great time to buy now!) Continue reading
I have elaborated before about the S&P/Case-Shiller Home Price Index and how representative it is (or not) of conditions in the Austin/Central Texas real estate market. News reports today are offering shock as the Indices for December 2010 returned to two-years ago levels, prompting fears of a “double dip” in housing. Here’s an up-to-date look at how Austin compares. Continue reading
I decided to assemble a more complete comparison of home prices in the Austin area and in the Case-Shiller indices (10-city and 20-city composites). The result? Here’s what a housing bubble looks like. Continue reading
It looks like mortgage rates will really keep rising this time. If you wait until rates increase to 6%, you will have lost more than 20% of the buying power that you qualified for just a few weeks ago! Continue reading
As I have discussed extensively, the Texas housing market has behaved very differently throughout this recession and housing crisis than California, Florida, Arizona, and Nevada. Only one of the metro areas in the Case-Shiller 20-city composite is in Texas, while 10 of the index cities were very hard-hit by the housing crisis. Continue reading
Bill Morris on Austin Real Estate 