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January 2019

There are 3 blog entries for January 2019.

Texas Economic Outlook

Wednesday, January 23rd, 2019 at 9:57pm. 682 Views

Austin new construction homesThe 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.

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Austin, Texas Real Estate Market Update and Statistics January 2019

Wednesday, January 23rd, 2019 at 6:16pm. 862 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

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Texas Housing Sales Down Slightly Following Double-Digit Increase

Friday, January 18th, 2019 at 4:03pm. 777 Views

Austin housesTexas 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,

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