There are 3 blog entries for December 2016.
Wednesday, December 21st, 2016 at 3:03pm. 1,112 Views
Personal income in Texas has outpaced housing price growth more than the United States as a whole, with the large metros of Dallas, Houston, and San Antonio leading the trend for the state, according to a report by the Real Estate Center at Texas A&M University. In Austin, however, housing prices have consistently outpaced income growth going as far back as the late 1990s.
The report credits Austin’s housing appreciation to its “expansion in the technology sector and its ‘cool’ factor as a chic living destination.” Historically, booms in the energy sector have correlated with increases in housing prices, as evidenced by Midland, Odessa, and Houston in the late 1970s to the early 1980s and then again recently.
Nonetheless, despite personal income not…
Wednesday, December 21st, 2016 at 11:59am. 1,073 Views
The Federal Reserve raised a key interest rate by 0.25 percent recently, and Real Estate Center Chief Economist Dr. James Gaines said this increase could have positive impacts on certain markets.
Gaines said one immediate result could be an increase in housing demand as buyers seek to take advantage of interest rates before they increase further. While the recent interest rate increase is only the second in a decade, the last taking place in December 2015, three more increases are forecast for 2017.
“People who are on the fence about buying a home might anticipate rates, as well as prices, going up in the next six to 12 months. This might give them the push they need to buy now,” said Gaines.
Mortgage rates for a 30-year, fixed-rate mortgage are…
Tuesday, December 20th, 2016 at 6:42pm. 1,149 Views
Austin-Area Double-Digit Home Sales Increases Likely Indicate Record Year
Widespread double-digit single family home sales increases across the Greater Austin area in November 2016 make it likely the area will break sales records for the year, according to the Austin Board of REALTORS® November 2016 Central Texas Housing Market Report.
The Austin-Round Rock area saw a home sales increase of 15.8 percent year-over-year, and the City of Austin had a sales increase of 13.7 percent. Hays County had the largest county-wide increase in home sales, with a jump of 24.2 percent, followed by Williamson County with a 14.7 percent increase and Travis County with an increase of 11.3 percent.
In all, sales totaled $769 million for the Austin-area, which is an…