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December 2015

There are 4 blog entries for December 2015.

Texas Housing: Demand High, Construction Slow, and Inventory Low

Tuesday, December 29th, 2015 at 4:18pm. 937 Views

Avery Ranch homesA December report by the Real Estate Center at Texas A&M University says that housing demand remains strong throughout the state of Texas but that new construction to meet that demand is being constrained by a shortage of both labor and lots.

New Construction and Inventory

Statewide, new building permits were flat, with recent declines in both Austin and Houston. None of the metro areas have reached permitting levels equal to or greater than those pre-recession. However, Research Economist Dr. Luis Torres, who co-authored the report, said, “The Texas residential business cycle (coincident) index that measures current construction activity continues its positive 2015 trend although at a slower pace."

Housing inventory in Texas is at a 3.4 months’

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Austin, Texas Real Estate Market Update and Statistics December 2015

Monday, December 21st, 2015 at 4:10pm. 1,192 Views

Austin luxury homesAustin Home Sales Take a Dip, Prices Hit Record

Home sales in the Austin area took a dip in November 2015, decreasing four percent compared to November 2014, according to a Multiple Listing Service (MLS) report by the Austin Board of REALTORS®. The retraction follows an increase in home sales for five consecutive months and is only the second month this year to show a decrease, along with May.

While sales took a small dip, prices kept rising: the median price for Austin-area homes increased 10 percent in November 2015 to $270,000, which is a record for that month. The average price also set a record, increasing 12 percent in November to $347,292. The total volume of single-family properties sold was $629,987,688, eight percent more than November

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Austin Area Population Surpasses Two Million

Tuesday, December 15th, 2015 at 1:01pm. 811 Views

Austin Texas populationThe City of Austin’s demographer Ryan Robinson says that the Austin, Texas metro area has reached a milestone: surpassing two million people, according to an article by Austin startup LawnStarter. The milestone likely was reached over the summer, as his October 1 population estimate reached 2,020,452 people. The article states that Steve Murdock, director of the Hobby Center for the Study of Texas at Rice University in Houston and former director of the United States Census Bureau, concurs with the estimate.  

The Austin region’s population has grown 62 percent from April 2010 to October 2015, from a population of 1,249,763 in April 2000, to a population of 1,716,289 in April 2010, to the recent estimate. This makes Austin one of the fastest growing

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Texas Housing on Track for Record Year

Monday, December 14th, 2015 at 4:52pm. 678 Views

Greenshores homes AustinThe 2015 Texas Annual Housing Report, a recap of all of the market research reports distributed by the Texas Association of Realtors, shows that Texas is on pace for a record year for real estate in 2015. The report indicates that Texas made a strong showing in all segments of the housing market, due to a growing state economy and growth in jobs and population. In 2014, the state was just short of an all-time high, but the report indicates this may be the year for a record number of home sales.

Here are a few of the findings of the 2015 Texas Annual Housing Report:

Texas home sales and home prices have shown increases throughout 2015.

Inventory reached a two-year high of four months’ supply, still 2.5 months short of a balanced market, according

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