Monday, June 18th, 2018 at 9:50am. 68 Views
For the first quarter of 2018, Texas home sales and Texas home prices both increased, while inventory and active listings decreased, according to the Texas Association of REALTORS® Texas Quarterly Housing Report.
“The momentum from the end of 2017 has moved into 2018, as Texas homes continue to be in high demand,” said TAR Chairman Kaki Lybbert. “This strong activity we’ve seen in home sales volume during the first quarter of 2018 is setting the stage for a strong summer selling season for Texas real estate.”
Texas home sales for the first quarter of 2018 increased 2.2 percent compared to the first quarter of 2017, to 70,292 sales, and median price increased 5.7 percent to $224,500. Inventory dropped 0.2 months to 3.3 months, with approximately 6.5…
Monday, June 18th, 2018 at 9:12am. 67 Views
Small land sales in Texas increased 8.5 percent to 7,588 sales in 2017, the fifth straight year for an increase, according to the Texas Association of REALTORS® Texas Small Land Sales Report. Sales total dollar volume topped $1 billion for the first time. However, the average price per acre experienced a 2.2 percent decline to $5,521 an acre.
“In recent years, small land sales have been a strong indicator of a healthy overall real estate market,” said TAR Chairman Kaki Lybbert. “With land sales increasing and price-per-acre declining slightly, we’re seeing a solid market for small land purchases for a wide range of uses, including recreation, residential, investment, commercial development and farm land.”
Small land sales in Texas typically are…
Friday, June 15th, 2018 at 3:10pm. 131 Views
Austin Housing Prices Up, Inventory Down
Historic highs and historic lows are now the norm in Austin real estate, with record-breaking median home prices and consistently low inventory levels. According to the Austin Board of REALTORS® May 2018 Central Texas Housing Market Report, the median price for an Austin home reached an all-time high of $389,000 in May 2018, an increase of 3.7 percent compared to May 2017. Inventory decreased to 2.0 months from 2.1 months, with an inventory of approximately 6.5 months considered balanced by the Real Estate Center at Texas A&M University. Sales overall rose 5.9 percent to 1,037 sales.
With the rising home prices in Austin proper, many homebuyers are looking to surrounding areas. Seven in 10 homes that were…
Friday, May 25th, 2018 at 10:50am. 244 Views
Thinking about remodeling? Homeowners should consider looking outdoors for their next upgrade, as outdoor projects can bring both financial reward and owner satisfaction, according to the National Association of Realtors®’and National Association of Landscape Professionals’ 2018 Remodeling Report: Outdoor Features.
The report looked at 13 outdoor residential projects and found that Realtors® ranked standard lawn care service as the most financially productive at resale, with a recovery rate of 267 percent of the project cost. Landscape maintenance and tree care came in second and third, with recovery rates of 100 percent. Installing an irrigation system was next most productive, at 86 percent recovery.
“Realtors® understand that a home’s first…
Wednesday, May 23rd, 2018 at 11:37am. 226 Views
Austin housing starts for the first quarter of 2018 were up 17.6 percent compared to the first quarter of 2017, for a total of 4,064 housing starts, according to Metrostudy. Annual new home starts increased 4.5 percent to 16,457. Attached homes, generally more affordable than single family homes, have seen significant gains, with 353 percent growth in the last five years.
New homes also are selling more quickly, and closings have outpaced housing starts for the last two quarters. In the first quarter of 2018, there were 4,118 closings, compared to 3,108 in 2017, a 32.5 percent increase. Annual closings increased 15.1 percent, from 13,634 after the first quarter of 2017 to 15,699 after the first quarter of 2018.
Metrostudy’s Austin Regional Director…
Friday, May 18th, 2018 at 1:43pm. 331 Views
ABOR report says all price ranges experiencing competition
All Austin area real estate price ranges are experiencing pressure due to limited inventory and high demand, according to the Austin Board of REALTORS® Central Texas Housing Market Report based on data from April 2018.
Pending sales in the Austin-Round Rock MSA increased 14.3 percent in April 2018 to 3,320 pending sales, while new listings were up 5.6 percent to 4,139 listings and active listings decreased 2.8 percent to 6,154 listings. Median price within the Austin-Round Rock MSA increased 3.8 percent compared to April 2017, for a median of $316,000. Inventory decreased 0.2 months to 2.4 months, well below the approximately 6.5 month supply that is believed to be balanced, according to the…
Monday, April 30th, 2018 at 3:05pm. 286 Views
The Texas economy continues to be strong, according to the Outlook for the Texas Economy Report by the Real Estate Center at Texas A&M University. A strong United States economy and stable energy prices were the predominant factors cited in the report. Texas produces 39 percent of national crude oil and accounts for 84 percent of its exports. Here are a few of the key findings in the April 2018 report:
For the Dallas Fed’s Business-Cycle Index, the Texas Urban Triangle was led by Austin, with an 8.5 percent metropolitan business cycle index. Dallas and San Antonio came in at 3.6 percent and 3.7 percent, respectively. Houston declined but still hit 5.9 percent.
The Texas Consumer Confidence Index reached a record high, with an increase of two…
Friday, April 27th, 2018 at 11:59am. 313 Views
The Texas economy is continuing to outpace the United States economy in job creation, even with a strong performance nationally, according to the Real Estate Center at Texas A&M University’s Monthly Review of the Texas Economy.
From March 2017 to March 2018, Texas gained 294,100 nonagricultural jobs for a 2.4 percent growth rate, compared to a U.S. growth rate of 1.5 percent. During the same time period, Texas gained 289,100 nongovernment sector jobs for a 2.8 percent growth rate, compared to a U.S. growth rate of 1.8 percent.
The seasonally adjusted unemployment rate in Texas for March 2018 was four percent, compared to a 4.6 percent rate in March 2017. The unemployment rate nationally was 4.5 percent, compared to 4.1 percent in March 2017. Austin…
Friday, April 20th, 2018 at 10:57am. 414 Views
Record-breaking March for Home Sales, Strong Summer Expected
Over 2,700 homes sold in March 2018 in the Austin-Round Rock Metropolitan Statistical Area, a 10.5 percent increase compared to March 2017 and the most sales ever in that month, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Total sales dollar volume increased 18.4 percent over March 2017 to a total of $1,071,274,938, and median home price was up 3.5 percent to $305,233. Inventory was down 0.2 months compared to March 2017 for 2.2 months of inventory.
“Last month, 2,714 single-family homes were sold in the five-county Central Texas region, which is more sales than any March we’ve seen on record,” said ABOR President Steve Crorey. “This type of growth early…
Friday, March 23rd, 2018 at 3:50pm. 532 Views
A new report has been issued by the Real Estate Center at Texas A&M University for the Texas economy, and results continue to look strong overall thanks in part to a strong United States economy and increasing energy prices. Issued in mid-March based on January data, the report stated that housing affordability, potential volatility in energy prices, and trade uncertainty would be potential headwinds going forward into 2018.
Texas’ labor market continued to tighten, pushing the economy towards a full employment level, with Texas adding 16,000 jobs. Austin had the largest proportional increase in jobs at 0.5 percent. Unemployment was four percent across the state and even lower in many metropolitan areas.
Austin led the state in the metropolitan…