Tuesday, September 19th, 2017 at 4:23pm. 403 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. 342 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. 370 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. 504 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…
Tuesday, August 22nd, 2017 at 3:06pm. 519 Views
There is a bit of surprising news about millennials living in Austin, according to realtor.com, which analyzed 2015 U.S. Census Bureau data on the largest metro areas in the nation. Of these largest metros, millennials in Austin are the most likely to live alone, with 11.2 percent of millennials renting or owning a home solo.
The article listed median rent for a one-bedroom apartment in Austin at $1,130, with the median home listing price at $391,900. Neither of these would be considered “cheap” on a statewide level, but they still aren’t as high as some larger coastal or tech cities. What, then, puts Austin at number one? The article suggests that many millennials move here from the more expensive cities but then telecommute, keeping their higher…
Friday, August 18th, 2017 at 5:15pm. 669 Views
Steady 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…
Saturday, July 22nd, 2017 at 8:51am. 688 Views
Mid-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.
Wednesday, July 19th, 2017 at 11:58am. 656 Views
The 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…
Tuesday, July 18th, 2017 at 4:53pm. 573 Views
New 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…
Friday, June 16th, 2017 at 2:27pm. 890 Views
Austin-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…