Austin Real Estate News

6.21.16

With the official start of summer comes a new report from the Austin Board of Realtors (ABoR) that outlines the state of our increasingly hot Austin housing market.

Released Tuesday, ABoR’s May 2016 report compared single-family home statistics year-over-year across Central Texas counties. In the Austin area, the median price for single-family homes increased 5 percent to $288,085, and over 2,900 homes were sold, a 10 percent increase from May 2015. In Austin proper, the median home price is now a whopping $355,000.

One of the more shocking statistics is the 21 percent increase in pending sales (3,297 total) for home listings on the market in Austin. Double-digit gains in pending sales were also consistent across the 18-county Central Texas region.

March 2, 2106

Austin is the second-best place to live in the U.S., according to a new ranking from U.S. News & World Report.

The ranking, which combines the results of a public survey with data from the U.S. Census Bureau and other federal agencies, examined the job market, affordability, migration rates, educational system and commute times to produce livability scores for the country's 100 largest metro areas.

October 26, 2015

Austin has the second-most stable housing market in the U.S., according to the latest Multi-Indicator Market Index — a proprietary survey created by Freddie Mac, a quasi-governmental residential mortgage capital source.

The four data sets analyzed in each market include the number of purchase applications to secure conventional loans as a proportion of total housing stock, loan payments as a proportion of income, number of delinquent home loans within the area and employment rate.

2016

Most Americans come to know the seat of their state government in elementary school, perhaps by way of a field trip or geography quiz. As adults, we might perceive them as mostly political centers lacking much social luster. In other words, they’re boring. Only 17 capitals are the most populated cities in their states. So unless they’re major hubs of all activity — or we happen to be geography buffs — most of us are bound to commit these lawmaking cities to our short-term memory.

Highlights

Many experts predict 2016 will be similar for the Central Texas housing market.

But some warn that oil industry slump and decreasing affordability could have some impact on Austin housing.

Austin’s housing market ended 2015 the way it started the year — still among the hottest in the nation.

For the fifth straight year, Austin-area home sales set a record in 2015, the Austin Board of Realtors said Thursday.

And for the fourth year in a row, the area’s median home sales price hit a new high, rising to $263,900.

With similar market conditions still in place, experts predict 2016 will be similar for the Central Texas housing market, though affordability will remain a concern as prices push higher. In addition, potential headwinds could loom for the economy that could affect the housing market, they say.

April 22, 2016

he housing bubble in Austin has to burst at some point, right? Wrong. According to the Austin Board of Realtors’ (ABoR) March report, Austin home sales and prices are sizzling and don’t look to be cooling off any time soon.

Spring is typically a hot season for real estate, and last month Austin-area single-family home sales increased 9.3 percent compared to March 2015, with a total of 2,552 homes sold. Single-family home prices also grew 7.8 percent year-over-year, reaching a median of $278,000 in March 2016. On top of that, the total dollar volume of single-family properties sold rose 14.1 percent compared to March 2015, reaching $8.9 million.

March 21, 2016

They say Austin is recession-proof, and a new real estate report backs up that sentiment. Online mortgage and loan resource center HSH.com reveals which metros have bounced back the most from the Great Recession — Austin leads the way.

Using data from the federal home price index from 1991 through the fourth quarter of 2015, HSH.com created a "home price recovery index." The data shows each market's pre-housing-crisis peak value, bottom value, and current housing value.

March 22, 2106

As if you needed another reminder, Austin’s real estate market has no plans to cool down anytime soon. The latest report from Austin Board of Realtors (ABoR) details the statistics for February home sales that are fueling our fiery housing market.

Key findings in the report reveal some major increases. In February, single-family home sales increased by 2.9 percent from the year prior, with a total of 1,783 properties sold. Median single-family home prices increased 8 percent year-over-year, reaching $269,900. Additionally, the average price for single-family homes in Austin rose to $333,011, 7.6 percent more than February 2015.

May 10, 2106

For the 12th consecutive year, Texas was ranked as the best state in the country for businesses by Chief Executive magazine. The magazine has conducted the survey for 12 years.

Chief Executive surveyed 513 CEOs across the nation on what states have the most business-friendly tax and regulatory regimes, quality of workforce and quality of living environment.

January 22, 2016

Central Texas growing larger and larger. A sharp downturn in the energy sector. The weak global economy and strong U.S. dollar whipsawing exporters. A labor market recovery helping other cities regain their competitive edge.

There are plenty of reasons to think Austin’s growth engine will cool to a more moderate pace, and yet it just keeps cruising along.

In fact, it re-accelerated in 2015. Local employers added 34,900 jobs last year, a growth rate of 3.8 percent, according to preliminary data released Friday by the Texas Workforce Commission.

That fell short of the metro area’s sizzling, 4-percent-plus payroll growth in 2012 and 2013, but it easily outpaced its 3.1 percent job growth in 2014.

“We have seen nothing but an increase in demand, and it’s across all industries,” said Melinda Alison, regional vice president at Robert Half, a global staffing firm.