Thursday, November 30th, 2017 at 3:31pm. 123 Views
Interested in a piece of Texas land? A recent slowdown in price increases indicates this may be a good time to jump into the land market. According to a report by the Real Estate Center at Texas A&M University’s Charles E. Gilliland and Tian Su, Texas land markets in the third quarter of 2017 experienced their lowest year-over-year price increases since fourth quarter 2015. While the market still experienced an increase, the Center reports the “Texas land markets seemed headed for a breather” following a rebound the previous three quarters.
The statewide gain for land market prices was at 1.78 percent year-over-year. This “muted” price increase, compared to the levels of 2013 to 2015, was the result of 5,766 total land transactions, an active total…
Friday, November 17th, 2017 at 4:43pm. 318 Views
2017 on pace to be another record-breaking year
The real estate market for the Austin-Round Rock Metropolitan Statistical Area is poised for another record-breaking year in 2017, following an increase in home sales in October 2017. According to the Austin Board of REALTORS® Central Texas Housing Market Report, Austin-area single family home sales in October increased 2.2 percent over 2016 to 2,292 home sales.
Fueling this increase were county sales, with Travis County increasing 1.4 percent to 1,124 home sales, Williamson County increasing 5.4 percent to 794 home sales, and Hays County increasing 6.2 percent to 274 home sales. The city of Austin experienced a decline in home sales compared to last year, with a decrease of 1.7 percent to 699 home…
Wednesday, November 15th, 2017 at 5:34pm. 294 Views
Even after Hurricane Harvey in August 2017, which resulted in 71,000 uninhabitable homes, the Texas housing market experienced a rebound in September 2017, according to the Real Estate Center at Texas A&M University. The Houston market represents 25 percent of the Texas housing market, and with uninhabitable homes plus 270,000 damaged homes in the Gulf Coast metropolitan statistical areas, additional pressure has been placed on inventory as people search for new places to live. Houston sales postponed from late August to September also were a driving force in increasing Texas home sales 2.6 percent.
Sales did decline in many areas when compared to 2016’s record-breaking sales. Austin experienced a 4.5 percent decline in home sales, and Dallas…
Monday, October 30th, 2017 at 5:41pm. 361 Views
Longtime residents of Austin, Texas might be heard saying, “This city sure has changed.” And they’d be right, according to a MagnifyMoney study, which named Austin the most changed metro area in the United States over the last ten years.
Looking at nine elements of change from 2006 to 2016 among the 50 largest metros, Austin ranked number one with a score of 90.4 out of 100. Change factors included commute times, building permits, median age, employment, income, housing prices, rent, crime rate, and recent moves.
From these factors, Austin had the fastest job growth in the nation, increasing 40+ percent since 2006. And a staggering 60 percent of Austin residents have moved since 2010, for a third in the nation score. This mobility is even with…
Friday, October 27th, 2017 at 4:15pm. 364 Views
Even with the impacts of Hurricane Harvey, the Texas economy is continuing to create more jobs, according to the Monthly Review of the Texas Economy by Ali Anari with the Real Estate Center at Texas A&M University.
From September 2016 to September 2017, Texas gained 256,100 nonagricultural jobs for an annual growth rate of 2.1 percent. The national growth rate for the same time period was 1.2 percent. Texas nongovernmental jobs increased by 230,300, and this created an annual growth rate of 2.3 percent. The national growth rate was 1.4 percent. Job creation was led by the metro areas of Corpus Christi, College Station-Bryan, El Paso, Midland, Dallas-Plano-Irving, Fort Worth-Arlington, Austin-Round Rock, and Odessa.
The only industry not to add more…
Monday, October 23rd, 2017 at 7:01pm. 489 Views
Austin-area Home Sales Down Compared to Last Year’s Records
Austin-Round Rock Metropolitan Statistical Area home sales were down this September 2017, compared to September 2016, and inventory levels were up, according to the Austin Board of REALTORS® September 2017 Central Texas Housing Market Report. However, experts indicate that rather than a sign of a downturn, these results are simply a slowing down of the breakneck speed of the recent past.
“Despite last month’s dip in home sales activity, it’s important to remember that we’re comparing our current figures to the record-breaking housing market activity in 2016 and it’s not necessarily indicative of a downturn,” said ABOR President Brandy Guthrie.
Single-family home sales for the…
Tuesday, September 19th, 2017 at 4:23pm. 869 Views
Austin-area Real Estate Breaks Summer Selling Season Records
The Central Texas summer season was the hottest it has ever been – in real estate, that is. The Austin-Round Rock Metropolitan Statistical Area reached its highest level of single-family home sales and the highest median price during the period of May 2017 to August 2017, according to the Austin Board of REALTORS® August 2017 Central Texas Housing Market Report.
“The Central Texas housing market just experienced the strongest summer selling season on record,” said ABOR President Brandy Guthrie. “The Austin-Round Rock MSA saw record breaking growth, during which median price topped $300,000 and home sales volume topped $1 billion four consecutive months in a row.”
The record breaking…
Tuesday, September 19th, 2017 at 1:14pm. 642 Views
CBRE Inc. ranked Austin, Texas number eight on its Tech Talent Scorecard for 2017 that ranked large metro areas in the United States and in Canada. This is a drop from Austin’s 2016 number five ranking, but it still highlights the city’s tech focus and business friendly reputation, according to the report.
Austin received a total score of 58.73. Total tech talent in Austin has seen 28.3 percent growth from 2011, with employment in 2016 at 68,810. The average wage is $91,443, an increase of 7.6 percent from 2011 to 2016.
With its employment breakdown, based on April 2017’s U.S. Bureau of Labor Statistics data, the highest paid tech talent was for Computer & Information Systems Managers, who had an average wage of $154,140. This was followed by…
Friday, September 15th, 2017 at 5:01pm. 638 Views
Mortgage applications surged in mid-September 2017, with applications for home purchases and refinances jumping 9.9 percent on a seasonally adjusted basis, according to the Mortgage Bankers Association and as reported by Realtor® Magazine.
Mortgage rates were among the lowest of the past year, with the 30-year fixed-rate mortgage rate averaging 4.03 percent during the week ending September 8, 2017, dropping from 4.06 percent the week prior, the MBA reported.
“Overall, mortgage rates continued to decline last week with the 30-year fixed rate decreasing three basis points to its lowest level since the 2016 election,” said MBA Economist Joel Kan. “Rates have decreased almost 20 basis points since mid-July.”
Home purchase applications were up 11…
Friday, September 1st, 2017 at 12:13pm. 751 Views
While the effects of Hurricane Harvey on the Texas economy remain to be seen, the recent shape of the Texas economy was strong. Texas had an annual growth rate of 2.4 percent in nonagricultural jobs from July 2016 to July 2017. This was a gain of 293,400 nonagricultural jobs and was higher than the United States’ employment growth rate of 1.5 percent, according to the Real Estate Center at Texas A&M University’s latest Monthly Review of the Texas Economy. Nongovernmental jobs grew at a rate of 2.6 percent, higher than the U.S. rate of 1.7 percent, for a total addition of 266,000 jobs.
The seasonally adjusted unemployment rate in Texas in July 2017 declined to 4.3 percent from the July 2016 rate of 4.7 percent. The seasonally adjusted unemployment rate…