Wednesday, December 19th, 2018 at 2:47pm. 569 Views
November 2018 Home Sales Notch Austin Area Closer to Record Year
The Austin-area housing market looks to be on track for another record-breaking year, following a slight increase in sales volume in November 2018. Sales volume in the Austin-Round Rock Metropolitan Statistical Area increased 0.7 percent compared to November 2017, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Sales dollar volume increased 5.6 percent, while median price ticked up 2.2 percent to $301,391.
"Sales are up 3.3 percent year-to-date for 2018,” ABOR President Steve Crorey. “Pending sales volume in December, the Central Texas housing market is on track to have one of the highest-grossing years on record."
For the month of November 2018,…
Friday, December 14th, 2018 at 12:11pm. 424 Views
Double digit increases in both Texas luxury home sales and home sales volume made this segment of homes “a strong driver of the Texas housing market” during the first 10 months of 2018, according to a release from the Texas Association of REALTORS® based on information in the 2018 Texas Luxury Home Sales Report.
Homes priced $1 million and higher that sold in the Austin, Dallas-Fort Worth, Houston, and San Antonio metropolitan statistical areas increased 11.5 percent to a total of 5,123 sales from October 2017 to November 2018, and total sales dollar volume experienced a double digit increase of 11.3 percent, reaching $8,361,918,994.
In Austin, luxury home sales volume increased 12.6 percent to a total of 968 sales from November 2017 to October…
Wednesday, December 12th, 2018 at 3:09pm. 415 Views
Homebuyers today are relying heavily on both technological resources and their Realtors® as they navigate the process of home shopping and closing, according to the National Association of Realtors®' Real Estate in a Digital Age report.
According to the report, finding the right home ranked as the most difficult step in purchasing a home, and 44 percent of buyers in 2018 started their home search by looking at properties online. This was the same level as in 2017. Rates of utilizing the internet varied by age: 99 percent of millennials used the internet to search homes, as did 90 percent of older boomers, while older boomers used mobile devices at only 21 percent compared to 58 percent of boomers.
Even with the boost of technology, however, 87…
Friday, November 30th, 2018 at 3:20pm. 544 Views
In 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…
Friday, November 30th, 2018 at 3:12pm. 553 Views
Nonagricultural 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.…
Friday, November 16th, 2018 at 5:45pm. 1,691 Views
Austin-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,…
Wednesday, October 31st, 2018 at 10:11pm. 681 Views
Texas gained nonagricultural jobs at a rate of 3.3 percent from September 2017 to September 2018, almost doubling the nation’s growth rate of 1.7 percent, according to the Monthly Review of the Texas Economy by the Real Estate Center at Texas A&M University. Nongovernment jobs also almost doubled that of the United States’ rate, with an annual growth rate of 3.9 percent in Texas and two percent in the U.S.
The unemployment rate in Texas in September 2018 was 3.8 percent, down from four percent in September 2017. The unemployment rate was lowest in Midland, with only 2.2 percent unemployment. Amarillo and Odessa tied for second at 2.7 percent, and Austin-Round Rock and College Station-Bryan tied for fourth with 2.9 percent.
Texas mining and logging…
Wednesday, October 31st, 2018 at 8:51pm. 682 Views
New home construction in the state of Texas is gaining steam, according to the most recent Texas Housing Insight report by the Real Estate Center at Texas A&M University. Construction permits for single-family homes increased 14.1 percent year-to-date (to August 2018), with Texas remaining the leader across the United States with 16 percent of total national permits.
Austin reached a decade-high in construction permits in July 2018 and has experienced 18 percent growth year-to-date with 1,459 permits issued. Permits also surged in San Antonio, with growth of 27 percent, while total permits were largest in Houston and Dallas-Fort Worth. Additionally, the Texas Residential Construction Cycle (Coincident) Index, a measurement of current construction…
Tuesday, October 30th, 2018 at 11:39am. 2,991 Views
Texas real estate is trending toward another record-breaking year in 2018, following an increase in third quarter sales and prices, according to the Texas Association of REALTORS® Texas Quarterly Housing Report. Home sales were up 4.4 percent for the quarter when compared to the third quarter of 2017, and median price also was up 4.4 percent to $235,000.
“At the current rate that home sales and active listings are increasing, we are trending towards another record-breaking year in Texas real estate,” said TAR Chairman Kaki Lybbert. “The record-breaking home-sales activity this summer in Texas is an example of the strong economy, job growth and quality of life in our great state that keeps driving demand for home ownership.”
Homes for sale in Texas…
Friday, October 19th, 2018 at 3:32pm. 760 Views
Steady September 2018 for Austin Real Estate
The Austin area real estate market held fairly steady for the month of September 2018, with a less than one percent decrease in number of sales and an almost six percent increase in dollar volume, according to the Austin Board of REALTORS® September 2018 Central Texas Housing Market Report.
“Austin-area housing market activity has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of the year,” said ABOR President Steve Crorey. “Home sales growth declined five percent last September, so it’s good to see that the area housing market held steady in September 2018. Austin continues to be one of the fastest-growing…