Saturday, March 30th, 2019 at 5:04pm. 505 Views
The state of Texas continues to outpace the United States in job growth and added 268,800 nonagricultural jobs from February 2018 to February 2019, according to the Real Estate Center at Texas A&M University. This equaled a 2.2 percent growth rate, compared to 1.7 percent for the nation's employment growth rate. Nongovernment jobs were added to a total of 256,000 in Texas, for an annual state job growth rate of 2.5 percent, compared to 1.9 percent nationally.
Unemployment in Texas in February 2019 was 3.8 percent, down from 4.1 percent in February 2018. The nation’s unemployment rate also decreased, from 4.1 percent to 3.8 percent.
The mining and logging sector experienced the strongest growth among Texas sectors, with an 8.41 percent change…
Thursday, March 28th, 2019 at 5:37pm. 370 Views
The Texas housing market remained strong in Texas in January 2019, fueled by a healthy labor market, population growth, and economic expansion, according to the Real Estate Center at Texas A&M University’s March 2019 Texas Housing Insight report.
Housing sales increased 1.2 percent, led by a rebound of home sales under $200k, which accounted to 41 percent of total sales. The Real Estate Center says that homes from $200k-$400k account for about half of Texas MLS sales.
Austin home sales increased 4.3 percent overall, with “strong gains for homes priced more than $300,000.” In San Antonio, homes under this amount experienced 6.5 percent growth. North Texas sales fell for the third month in a row, with a 2.4 percent decrease in Dallas and a 2.6 percent…
Thursday, March 21st, 2019 at 11:08am. 554 Views
February 2019 Home Sales Break Record
More Central Texas homes were sold in February 2019 than in any previous February, according to the Austin Board of REALTORS® February 2019 Central Texas Housing Market report. Sales increased six percent from February 2018 to 2,101 sales.
"We've been hearing from our members that buying and selling activity has really picked up over the past month," said ABOR President Kevin P. Scanlan. "We're seeing a lot of development in North Austin, as major tech employers are looking for space with ample room for housing development and access to major transportation arterials.”
Median home price in the Austin area for February 2019 was $295,000, a 0.3 percent decrease compared to $296,000 in February 2018. Inventory…
Thursday, February 28th, 2019 at 12:45pm. 459 Views
Experts with the Real Estate Center at Texas A&M University say that single family home sales will slow in 2019 and then bounce back in 2020. “This cooling period is necessary after multiple years of explosive growth, allowing the market to adjust in areas of extreme shortages and rapid affordability declines,” a release stated. Median price per square foot still is expected to increase by about four percent in major Texas cities.
In 2018, sales in the Texas housing market increased 1.7 percent. While a modest increase, home sales reached a record number. The report cited low inventory and decreasing affordability for the lessened rate of increase. And, while there was more construction activity, a shortage of homes under $300k stressed “more than…
Wednesday, February 27th, 2019 at 7:19pm. 458 Views
Texas is 18th in the nation for average annual homeowner cost among those who have a mortgage, based on 2017 United States Census Data compiled by Ali Anari with the Real Estate Center at Texas A&M University. These costs include real estate taxes, insurance premiums, utility payments, and property debts. Housing costs on median in the state were $18,156 per year.
The city with the highest cost in Texas was Frisco, which had costs substantially higher than median at $30,936. Next was The Woodlands at $29,016, Sugar Land at $28,044, Flower Mound at $27,084, Cedar Park at $25,716, and McKinney at $25,008. Austin skirted past the top ten most expensive and was in place eleven with a yearly cost of $23,028. Round Rock was 14th with $20,880.
On the low…
Monday, February 25th, 2019 at 9:20am. 666 Views
Austin-area Home Sales Flat, Median Price Appreciation Slows
Austin-area home sales decreased by 1.8 percent in January 2019, while median price increased 2.4 percent to $296,999, according to the Austin Board of REALTORS® January 2019 Central Texas Housing Market report. Housing inventory was still extremely tight, with a 2.3 month supply even following a 0.4 month increase for the month.
"In December 2018, new listings on the market returned to more normal levels compared to December 2017. This resulted in a slight decrease in January sales this year," said ABOR President Kevin P. Scanlan. “However, even though we are seeing slowing home price appreciation, future homeowners are still buying. That means Austin’s market remains extremely…
Wednesday, January 23rd, 2019 at 9:57pm. 675 Views
The Texas economy continued to expand in November 2018, but did lose some steam, according to a Real Estate Center at Texas A&M University report. Factors weighing down the expansion included lower oil prices, lower home sales, and weaker hiring in the service sector. Factors elevating the expansion included upward wages due to low unemployment and historic levels of crude production. Manufacturing also created a record high number of jobs.
Austin and Houston business-cycle indices “boomed,” according to the report, with 7.4 and 6.4 percent growth, respectively, while Dallas slowed to four percent and Fort Worth slowed to 2.7 percent growth. The overall Dallas Fed’s Texas Business-Cycle Index was up five percent, for the first time since January 2015.…
Wednesday, January 23rd, 2019 at 6:16pm. 855 Views
Austin-area Home Sales Break Record in 2018
Home sales in the Austin-Round Rock Metropolitan Statistical Area broke an all-time record in 2018, with 30,713 homes selling for a total of $11.9 billion in sales dollar volume, according to the Austin Board of REALTORS®. This was a 2.1 percent increase in sales and was impacted by a 3.6 percent increase to $310,400 in the median price of homes.
“2018 was the highest-grossing year on record, and for the first time ever, the median price for single-family homes in the Austin-Round Rock MSA (metropolitan statistical area) stayed above $300,000 for 10 consecutive months,” said ABOR President Kevin P. Scanlan.
The annual highs were despite down numbers in December 2018. For the month, sales of homes in…
Friday, January 18th, 2019 at 4:03pm. 771 Views
Texas housing sales were down 1.1 percent in November 2018, after a double-digit increase in October 2018, according to the Real Estate Center at Texas A&M University’s Texas Housing Insight.
San Antonio was the only metro area in Texas to see an increase, with a record-high 2,920 sales and a 5.2 percent increase compared to December 2017. Austin experienced a 0.2 percent decrease, and Houston experienced a 2.8 percent decrease. Dallas experienced a continued “correction” with a 12.8 decrease, and Fort Worth experienced a 4.3 decrease, according to the report.
Even with this slight drawback, the median price for a Texas home reached a record high of $235,727. Dallas and San Antonio both experienced price increases, to $288,468 and $227,750,…
Wednesday, December 19th, 2018 at 2:47pm. 1,158 Views
November 2018 Home Sales Notch Austin Area Closer to Record Year
The Austin-area housing market looks to be on track for another record-breaking year, following a slight increase in sales volume in November 2018. Sales volume in the Austin-Round Rock Metropolitan Statistical Area increased 0.7 percent compared to November 2017, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Sales dollar volume increased 5.6 percent, while median price ticked up 2.2 percent to $301,391.
"Sales are up 3.3 percent year-to-date for 2018,” ABOR President Steve Crorey. “Pending sales volume in December, the Central Texas housing market is on track to have one of the highest-grossing years on record."
For the month of November 2018,…