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International Homebuyers Add $11 billion to Texas Economy from 2017-2018

Friday, September 28th, 2018 at 3:23pm. 867 Views

Austin international home salesInternational homebuyers purchasing Texas real estate added $10.89 billion to the Texas economy from April 2017 to March 2018, according to the Texas Association of REALTORS® Texas International Homebuyers Report. This placed Texas third in the nation for international home sales volume, behind Florida and California, with Arizona and New York rounding out the top five.

During this time period, 10 percent of all home sales by international sellers were in Texas, and nine percent of all homes sales purchased by international buyers were in Texas. Texas was tops with homebuyers from Mexico, with 38 percent of Mexican homebuyers purchasing a United States homes choosing the state. Seven percent of buyers from China chose Texas, with six percent from

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Record Number of Homeowners Believe Good Time to Sell

Thursday, September 27th, 2018 at 12:52pm. 2,706 Views

austin homesA record high of 77 percent of Americans believe it is a good time to sell a house, according to the National Association of Realtors® third quarter 2018 Housing Opportunities and Market Experience survey. As far as buying a home, 63 percent believe it is a good time to buy. Additionally, an almost record 60 percent believe the economy is improving. This is up from 58 percent in the previous quarter and up from 53 percent in the third quarter of last year.

The breakdown for optimism on selling a home was 50 percent strongly believing it is a good time to sell, up four percent from the second quarter, and 27 percent moderately believing it is a good time to sell, compared to 29 percent in the second quarter. Those in the West came in the highest for

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Austin, Texas Real Estate Market Update and Statistics September 2018

Tuesday, September 18th, 2018 at 8:59pm. 719 Views

Highest-grossing August on Record for Central Texas Home Sales Volume

The Central Texas residential real estate market ended the summer selling season with a boom in August 2018, with the month being the highest grossing on record for home sales volume, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Home sales volume in the Austin Metropolitan Statistical Area increased 10.5 percent to reach over $1.2 billion.

“Last month’s housing market activity shows little evidence that the market is slowing as we move into the fall,” said ABOR President Steve Crorey. “More homes are entering the market and pending sales growth remains strong year over year. At the same time, the gains in housing stock have yet to impact housing

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Texas Housing Rebounds in July 2018

Thursday, September 13th, 2018 at 6:25pm. 697 Views

Austin housing salesHousing sales in Texas rebounded in July 2018, with a record level of 29,456 homes sold in Texas through the Multiple Listing Service. This was a 3.8 percent increase over July 2017, with most of the improvement found in homes in the $200,000 to $300,000 range but demand strengthening across the price spectrum, according to Texas Housing Insight by the Real Estate Center at Texas A&M University. This increased demand ended a four-month stretch of inventory increases.

Construction for single-family homes increased 6.3 percent year to date, with Texas leading the nation in new home construction permits issued.  Texas new housing permits accounted for 16 percent of the nationwide total. While Houston and Dallas-Fort Worth topped the state in number of

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2018: Texas Condominium Sales Slightly Down, Townhome Sales Up

Thursday, August 16th, 2018 at 3:33pm. 838 Views

Austin condosTexas condominium sales dropped 2.1 percent from July 2017 to June 2018, while townhome sales increased 6.3 percent, according to the Texas Association of REALTORS® 2018 Texas Condominium Sales Report.

“Despite the slight decrease in sales, the Texas condominium and townhome market remains one of the most popular segments of the Texas housing market,” said TAR Chairman Kaki Lybbert. “With less maintenance and close proximity to popular attractions, many retirees and young professionals prefer condos and townhomes as an affordable alternative to traditional, single-family homes.”

Generally a more affordable alternative to single-family homes, the median year-to-date price for Texas condominiums as of June 2018 was $185,000, and the median

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Austin, Texas Real Estate Market Update and Statistics August 2018

Thursday, August 16th, 2018 at 2:00pm. 864 Views

Austin real estate statisticsAustin-area Experiences Highest Volume of Homes Sold Since 2011, Highest Median Price Ever

In July 2018, Austin-area real estate reached its highest home sales volume since July 2011, according to the Austin Board of REALTORS® July 2018 Central Texas Housing Market Report. Median price in the Austin area hit its highest point ever, with a median price of $320,000, a six percent increase. The city of Austin had double digit increases in home sales in July 2018, increasing 13.5 percent compared to July 2017, and sales dollar volume also had a double digit increase, with a 19.8 percent gain.

“Strong pending sales activity in June contributed to a big uptick in home sales growth last month, and pending sales growth was strong again in July, too,” said

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WalletHub: Austin is Third Best U.S. City

Thursday, August 16th, 2018 at 11:45am. 646 Views

austin best cities to liveWalletHub named Austin, Texas the third best big city to live in within the United States. Seattle, Washington and Virginia Beach, Virginia took the top two spots, while San Francisco, San Diego, and Honolulu rounded out the top five. The top three scores were very close, with scores of 63.63, 63.27, and 63.24.

There was a three-way tie among U.S. big cities for income growth, with San Francisco, Seattle, and Austin taking top spot. Austin ranked second overall in the U.S. for its economy and ranked eighth for education and health. For quality of life, Austin ranked 16th and then dropped below the top 20 from there, to 21st in safety and 28th in affordability.

Of Texas cities, Arlington was the next highest ranked at 31, followed by Fort Worth and

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Texas Economic Expansion Continues

Sunday, July 22nd, 2018 at 4:18pm. 747 Views

Austin downtownIncreases in energy and manufacturing activity led to a continued expansion in the Texas economy for May 2018, according to the Real Estate Center at Texas A&M University. Workers also are being drawn back into the workforce, due to low unemployment.

The Dallas Fed's Business-Cycle Index rose 5.5 percent, to its highest level since 2014. Houston was up 6.2 percent due to growth in the energy industry, and Austin also was up 6.2 percent, due to a “booming technology industry.” The Texas Leading Economic Index, which measures future changes, was up 5.7 percent in growth year over year. This was a decrease in pace, however, and caused growth in the statewide employment forecast to decrease from 3.6 percent to 3.3 percent.

The 30-year-fixed-rate for

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U.S. Home Outlook Steady in Second Quarter of 2018

Sunday, July 22nd, 2018 at 3:19pm. 765 Views

Austin housing salesSeventy-five percent of Americans believe it’s a good time to sell a house, according to recent findings from the National Association of Realtors® and released in its Housing Opportunities and Market Experience (HOME) survey. Sixty-eight percent of Americans think now is a good time to buy a house. The survey also found that most consumers think prices will continue to increase.

While these results are fairly steady from last quarter, the makeup of the results has shifted. Renters collectively have less positive feelings on buying than last quarter, with 55 percent believing it was a good time to buy in the first quarter and 49 percent believing in the second quarter that it is a good time to buy.

Buyers 65 and older have the highest percentage of

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Austin, Texas Real Estate Market Update and Statistics July 2018

Wednesday, July 18th, 2018 at 11:50am. 920 Views

June 2018 Austin-area Home Sales Slow but Still on Track for Record

Austin housing salesAustin-area home sales slowed in June 2018, with a 2.7 percent dip compared to June 2017, according to the Austin Board of REALTORS® June & Midyear 2018 Central Texas Housing Market Report. Despite this, the area “experienced strong and steady growth in the first half of this year,” according to the report.

“Despite a decline in home sales volume across Central Texas in June, 2018 is on track to be another record-setting year for the region’s housing market,” said ABOR President Steve Crorey. “Consecutive years of record-breaking sales activity have set the bar incredibly high, and it’s important to remember that we’re comparing June 2018 figures to that strong activity. The Central

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