Friday, June 16th, 2017 at 2:27pm. 173 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…
Friday, June 9th, 2017 at 2:07pm. 201 Views
Thirty-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…
Friday, June 9th, 2017 at 1:33pm. 236 Views
Americans 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…
Wednesday, May 17th, 2017 at 11:46am. 466 Views
Home 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…
Monday, May 15th, 2017 at 9:55am. 390 Views
Austin 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
Friday, May 12th, 2017 at 5:03pm. 342 Views
Austin, 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,…
Sunday, April 30th, 2017 at 8:21pm. 567 Views
I'm now verging on 10 years in the residential real estate business this June 2017, having started in commercial/corporate real estate for my first nine years in 1998. Over the last 10 years, I've sold approximately 174 homes personally, and during 2018, I likely will hit my 200th residential sale. This does not include the hundreds of homes sold by my agents for which I'm responsible and have oversight. I've trained many agents both new and experienced alike and have served as crisis manager for many challenges that are inherent to the business. And with all this experience comes insight and wisdom, yet the acknowledgement that there is always the potential for something new and challenging that can arise at any time. Nobody is perfect, but we are only…
Wednesday, April 26th, 2017 at 2:30pm. 396 Views
The Austin Business Journal, in partnership with information from Metrostudy Inc., released a list of the fastest growing new construction neighborhoods in the Greater Austin area, with results including neighborhoods in Travis, Williamson, Hays, Bastrop, and Caldwell counties. As reported by the Real Estate Center at Texas A&M University, the results track one year of activity from 1Q 2016 through 4Q 2016 and are based on housing starts, when foundations are poured.
Here are the fastest growing neighborhoods in the Austin area for 2016:
With 426 home starts, Siena at Highway 79 and SH 130 was the fastest growing new construction neighborhood in the Greater Austin area. Homes range from $212k to $380k. With 313 new home starts, Sun City Texas by Del…
Monday, April 24th, 2017 at 1:51pm. 511 Views
Homes Sales Neutral in Austin and Greater Austin
Home sales in Austin and Greater Austin were relatively neutral in March 2017. Within the city, home sales increased 1.2 percent compared to March 2016 to 780 home sales, according to the Austin Board of REALTORS® March 2017 Central Texas Housing Market Report. In the Austin-Round Rock Metropolitan Statistical Area, home sales decreased 1.4 percent compared to March 2016 to 2,509 home sales.
In both areas, home prices increased. Median home price in Austin increased 12.6 percent to $371,606, and in the Greater Austin area, median price increased 5.6 percent to $295,767. Inventory also increased in both areas, with inventory in Austin growing by 0.1 months to 1.8 months of inventory and with inventory…
Friday, April 21st, 2017 at 1:03pm. 306 Views
Texas homebuyers are becoming increasingly diverse, with more single and minority homebuyers, according to the Texas Homebuyers and Sellers Report 2017 Edition, released by the Texas Association of REALTORS®.
Single homebuyers now represent 28 percent of all homebuyers, spurred by increases in sales by both male and female single homebuyers. Single female homebuyers increased five percent to 19 percent of all homebuyers. Single male homebuyers increased two percent to nine percent of total homebuyers.
Hispanic homebuyers now represent 14 percent of home sales and 27 percent of first-time homebuyers. African-Americans make up six percent of all home sales and are the most likely minority group to be repeat homebuyers.
The median age of Texas…