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November 2018

There are 3 blog entries for November 2018.

Texas Housing Construction Highest since 2008

Friday, November 30th, 2018 at 3:20pm. 781 Views

Austin new construction homesIn 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

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Texas Job Growth Outpaces U.S.

Friday, November 30th, 2018 at 3:12pm. 779 Views

Austin jobs employmentNonagricultural 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.

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Austin, Texas Real Estate Market Update and Statistics November 2018

Friday, November 16th, 2018 at 5:45pm. 2,458 Views

Austin real estate statisticsAustin-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,

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