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Austin, Texas Real Estate Market Update and Statistics August 2017

Friday, August 18th, 2017 at 5:15pm. 65 Views

central austin homesSteady July for Austin-area Housing

Single-family home sales across the Austin-Round Rock Metropolitan Statistical Area increased 2.8 percent year-over-year in July 2017, with sales in Austin declining 2.5 percent that same month, according to the Austin Board of REALTORS® July 2017 Central Texas Housing Market Report. While Travis County had a 1.1 percent decline in home sales, Hays County sales increased 15.3 percent and Williamson County sales increased 2.3 percent.

Much of this impact is due to home availability. Housing levels increased in the areas surrounding Austin, with the MSA as a whole increasing 0.4 months to 3.2 months of inventory, while inventory only increased 0.1 months to 2.5 months within the city of Austin.

“During a month

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Austin, Texas Real Estate Market Update and Statistics July 2017

Saturday, July 22nd, 2017 at 8:51am. 259 Views

Austin real estate statisticsMid-Year 2017 Austin Real Estate Statistics

For the first half of 2017, Austin-Round Rock Metropolitan Statistical Area home sales rose 2.8 percent year-over-year to 14,958 home sales, with median price increasing 6.4 percent year-over-year to $300,000, according to the Austin Board of REALTORS® June 2017 Central Texas Housing Market Report.. Active listings increased 15 percent and sales dollar volume increased 10.4 percent.

For the month of June 2017, home sales volume in the Austin-Round Rock MSA increased 4.4 percent year-over-year, and median price increased 6.6 percent to $314,000. Housing inventory increased 0.5 months to 3.1 months. Total dollar volume for home sales increased 12 percent over last June to $1,347,423,877.

“The Central

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Housing Prices Continue to Rise in Texas, Austin Highest Increase

Wednesday, July 19th, 2017 at 11:58am. 266 Views

Austin home pricesThe latest Texas Housing Insight report from the Real Estate Center at Texas A&M University shows that housing affordability is a challenge throughout the state of Texas. While, nationally, home prices have risen 7.4 percent since 2007, “The Federal Housing Finance Agency Housing Price Index shows Texas homes are 43.1 percent more expensive than they were in 2007," said Center Research Economist Dr. Luis Torres.

Some of the major metros within Texas have seen even higher increases in the last 10 years. Austin has seen the highest growth, with a 65.7 percent increase in Austin home prices since 2007. Houston is second with 55.7 percent growth. The Dallas-Fort Worth market has seen a 55.4 percent increase in Dallas and a 44.1 percent increase in Fort

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Texas, Austin New Home Permits Reach 10-Year High

Tuesday, July 18th, 2017 at 4:53pm. 197 Views

Austin new home constructionNew home single-family construction permits in Texas reached a 10-year high in March 2017, with 10,481 permits issued, an 11.5 percent increase, according to Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M University. Austin’s 1,547 new home permits were also the most the capital city has seen in a decade.  

“Texas led the nation in total permits issued and ranked fifth in permits per capita,” said Torres. “Construction permits increased significantly in the Texas Urban Triangle.”

Houston was number one in the nation for new home construction permits, with 3,543 permits issued, and Dallas was number two in the nation with 2,405 permits issued. Nearby Fort Worth experienced a 45.4 percent increase since January 2017 in

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Austin, Texas Real Estate Market Update and Statistics June 2017

Friday, June 16th, 2017 at 2:27pm. 501 Views

Austin home pricesAustin-area Home Sales Dollar Volume Hits All-Time High in May 2017

Austin-area home sales hit a record breaking total of $1,234,617,317 for the month of May 2017, an 18.4 percent increase over May 2016, according to the Austin Board of REALTORS® May 2017 Central Texas Housing Market Report. This over $1.2 billion total was helped by strong home sales increases across the board in the Austin-Round Rock Metropolitan Statistical Area.

“Housing is the backbone of our region’s economy and the heart of our communities,” said ABOR President Brandy Guthrie. “Housing demand continues to be at an all-time high in and around Austin, indicated by steady growth in home sales and prices, listing activity and housing inventory. The concurrent gains in listing

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Mortgage Rates Continue to Drop

Friday, June 9th, 2017 at 2:07pm. 467 Views

Austin luxury homesThirty-year mortgage rates hit their lowest level in almost seven months during the week ending June 8, 2017, falling to 3.89 percent, according to Freddie Mac data as reported by Realtor® Magazine. The article suggests “home buyers may want to rush to lock in” their rates.

The 10-year Treasury yield dropped three basis points during the week ending June 8, 2017, and according to Freddie Mac Chief Economist Sean Becketti, “The 30-year mortgage rate moved in tandem with Treasury yields, falling 5 basis points to 3.89 percent. Mixed economic data and increasing uncertainty are continuing to push rates to the lowest levels in nearly seven months."

The 3.89 percent average for 30-year fixed-rate mortgages with an average of 0.5 points down was a

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Record Number of Americans Think Now Is a Good Time to Sell Homes

Friday, June 9th, 2017 at 1:33pm. 502 Views

Austin real estate housesAmericans who think now is a good time to sell homes hit a record high of 32 percent in May 2017, according to Fannie Mae’s latest Home Purchase Sentiment Index and reported by Realtor® Magazine. Accordingly, the number of Americans who say now is a good time to buy homes fell by eight percent to 27 percent, reaching a record low.

“High home prices have led many consumers to give us the first clear indication we’ve seen in the National Housing Survey’s seven-year history that they think it’s now a seller’s market,” says Fannie Mae Chief Economist Doug Duncan. However, he said that prospective homebuyers will likely face continued home price increases as long as the housing supply remains tight. “We continue to see a lack of housing supply as many

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Austin, Texas Real Estate Market Update and Statistics May 2017

Wednesday, May 17th, 2017 at 11:46am. 637 Views

Austin real estate statisticsHome Sales Up in Austin and Surrounding Areas

Home sales in the Austin Metropolitan Statistical area increased 3.2 percent in April 2017 compared to April 2016, for a total of 2,640 home sales, according to the April 2017 Austin Board of REALTORS­® Central Texas Housing Market Report. Within the city of Austin, home sales increased 2.2 percent to 827 home sales.

Countywide, Williamson County saw home sales increase by 8.6 percent compared to April of last year, with Hays County homes sales increasing by 3.3 percent. Travis County, however, had a 2.1 percent decrease in home sales in April.

“After a slow beginning to the year, increases in single-family home sales, homes on the market, and housing inventory across the region in April 2017 indicate

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Austin Jobs Grow by 3.3 Percent

Monday, May 15th, 2017 at 9:55am. 548 Views

Austin jobsAustin jobs grew by 3.3 percent in the 12 months ending March 2017, an addition of 32,700 net new jobs, according to data from the Texas Workforce Commission and the U.S. Bureau of Labor Statistics and compiled by the Austin Chamber of Commerce.

This growth makes Austin the tenth fastest growing major metropolitan area of the 50 largest metropolitan areas, in regards to jobs. Dallas was the first fastest growing, with a growth rate of 4.1 percent. No other Texas cities made the top ten, with Fort Worth coming in 16th with growth of 2.9 percent, San Antonio coming in 21st with growth of 2.4 percent, and Houston coming in 44th with growth of one percent.

Austin Snapshot: March 2016 to March 2017

  • Austin added 32,700 net new jobs in the 12 months

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Austin #8 Best Large City in U.S. to Start a Business

Friday, May 12th, 2017 at 5:03pm. 488 Views

Austin start businessAustin, Texas is the eighth best large city in the United States in which to start a business, according to Wallet Hub’s 2017 list. Using 18 metrics ranging from office space affordability to five-year business-survival rate, Austin was the top city in Texas to make the list, followed by Amarillo in ninth place.

Austin’s total score was 53.37, compared to first-ranking Oklahoma City, which scored 56.85. In ranked categories, Austin was fourth for “Business Environment” and ninth for “Access to Resources.” Austin scored poorly, 127th, for “Business Costs.” Austin also was fourth for “Highest Average Growth in Number of Small Businesses.”

Following Oklahoma City were Salt Lake City, Utah; Charlotte, North Carolina; Tulsa, Oklahoma; Grand Rapids,

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