Friday, November 30th, 2018 at 3:20pm. 263 Views
In September 2018, current home construction activity in Texas reached the highest level since 2008, according to the latest report from the Real Estate Center at Texas A&M University. While the Residential Construction Cycle (Coincident) Index reached a recent high, the Leading Index ticked down for the first time in 2018.
Austin developed 11,339 new lots through the third quarter of 2018 and “showed signs of trending upward.” New permits in Austin dropped to 1,187 after a strong summer, but Austin maintained four percent growth for the year. Construction values were up 3.5 percent for the quarter in Austin, while values in the state were up 2.6 percent. Texas still remains the top state in the nation for new construction permits, with 16 percent of…
Friday, November 30th, 2018 at 3:12pm. 270 Views
Nonagricultural job growth in Texas nearly doubled that of the United States, with a 3.1 percent increase from October 2017 to October 2018, compared to 1.7 percent for the U.S., according to the Real Estate Center at Texas A&M’s Monthly Review of the Texas Economy. Nongovernment jobs also increased: 3.7 percent in Texas compared to two percent in the U.S.
Texas unemployment was 3.7 percent in October 2018, down from 3.9 percent in October 2017. National unemployment decreased from 4.1 percent to 3.7 percent.
Midland experienced the largest percent growth in employment among Texas metros, at 9.3 percent. Tyler, Houston-The Woodlands-Sugar Land, Austin-Round Rock, Sherman-Denison, and Dallas-Plano-Irving followed, all 3.1 percent or higher.…
Friday, November 16th, 2018 at 5:45pm. 875 Views
Austin-Area Experiences Record-Breaking Home Sales for October 2018
October 2018 home sales in the Austin area were the highest on record for any October, increasing 8.8 percent to top $900 million, according to the Austin Board of REALTORS® October 2018 Central Texas Housing Market Report. Additionally, sales volume increased 4.3 percent compared to last October, and median price increased approximately eight percent to reach $308,355.
New listings were up 3.7 percent compared to October 2017, while active listing increased 8.2 percent and pending sales increased 2.8 percent. Inventory inched up 0.1 months to a 2.9 month supply.
ABOR President Steve Crorey said, “We saw slight inventory increases across the market, particularly in the suburbs,…
Wednesday, October 31st, 2018 at 10:11pm. 445 Views
Texas gained nonagricultural jobs at a rate of 3.3 percent from September 2017 to September 2018, almost doubling the nation’s growth rate of 1.7 percent, according to the Monthly Review of the Texas Economy by the Real Estate Center at Texas A&M University. Nongovernment jobs also almost doubled that of the United States’ rate, with an annual growth rate of 3.9 percent in Texas and two percent in the U.S.
The unemployment rate in Texas in September 2018 was 3.8 percent, down from four percent in September 2017. The unemployment rate was lowest in Midland, with only 2.2 percent unemployment. Amarillo and Odessa tied for second at 2.7 percent, and Austin-Round Rock and College Station-Bryan tied for fourth with 2.9 percent.
Texas mining and logging…
Wednesday, October 31st, 2018 at 8:51pm. 466 Views
New home construction in the state of Texas is gaining steam, according to the most recent Texas Housing Insight report by the Real Estate Center at Texas A&M University. Construction permits for single-family homes increased 14.1 percent year-to-date (to August 2018), with Texas remaining the leader across the United States with 16 percent of total national permits.
Austin reached a decade-high in construction permits in July 2018 and has experienced 18 percent growth year-to-date with 1,459 permits issued. Permits also surged in San Antonio, with growth of 27 percent, while total permits were largest in Houston and Dallas-Fort Worth. Additionally, the Texas Residential Construction Cycle (Coincident) Index, a measurement of current construction…
Tuesday, October 30th, 2018 at 11:39am. 2,775 Views
Texas real estate is trending toward another record-breaking year in 2018, following an increase in third quarter sales and prices, according to the Texas Association of REALTORS® Texas Quarterly Housing Report. Home sales were up 4.4 percent for the quarter when compared to the third quarter of 2017, and median price also was up 4.4 percent to $235,000.
“At the current rate that home sales and active listings are increasing, we are trending towards another record-breaking year in Texas real estate,” said TAR Chairman Kaki Lybbert. “The record-breaking home-sales activity this summer in Texas is an example of the strong economy, job growth and quality of life in our great state that keeps driving demand for home ownership.”
Homes for sale in Texas…
Friday, October 19th, 2018 at 3:32pm. 550 Views
Steady September 2018 for Austin Real Estate
The Austin area real estate market held fairly steady for the month of September 2018, with a less than one percent decrease in number of sales and an almost six percent increase in dollar volume, according to the Austin Board of REALTORS® September 2018 Central Texas Housing Market Report.
“Austin-area housing market activity has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of the year,” said ABOR President Steve Crorey. “Home sales growth declined five percent last September, so it’s good to see that the area housing market held steady in September 2018. Austin continues to be one of the fastest-growing…
Friday, September 28th, 2018 at 3:23pm. 743 Views
International homebuyers purchasing Texas real estate added $10.89 billion to the Texas economy from April 2017 to March 2018, according to the Texas Association of REALTORS® Texas International Homebuyers Report. This placed Texas third in the nation for international home sales volume, behind Florida and California, with Arizona and New York rounding out the top five.
During this time period, 10 percent of all home sales by international sellers were in Texas, and nine percent of all homes sales purchased by international buyers were in Texas. Texas was tops with homebuyers from Mexico, with 38 percent of Mexican homebuyers purchasing a United States homes choosing the state. Seven percent of buyers from China chose Texas, with six percent from…
Thursday, September 27th, 2018 at 12:52pm. 1,433 Views
A record high of 77 percent of Americans believe it is a good time to sell a house, according to the National Association of Realtors® third quarter 2018 Housing Opportunities and Market Experience survey. As far as buying a home, 63 percent believe it is a good time to buy. Additionally, an almost record 60 percent believe the economy is improving. This is up from 58 percent in the previous quarter and up from 53 percent in the third quarter of last year.
The breakdown for optimism on selling a home was 50 percent strongly believing it is a good time to sell, up four percent from the second quarter, and 27 percent moderately believing it is a good time to sell, compared to 29 percent in the second quarter. Those in the West came in the highest for…
Tuesday, September 18th, 2018 at 8:59pm. 619 Views
Highest-grossing August on Record for Central Texas Home Sales Volume
The Central Texas residential real estate market ended the summer selling season with a boom in August 2018, with the month being the highest grossing on record for home sales volume, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Home sales volume in the Austin Metropolitan Statistical Area increased 10.5 percent to reach over $1.2 billion.
“Last month’s housing market activity shows little evidence that the market is slowing as we move into the fall,” said ABOR President Steve Crorey. “More homes are entering the market and pending sales growth remains strong year over year. At the same time, the gains in housing stock have yet to impact housing…