Market Updates

Real Estate Market Updates for Dallas and Austin.

 

AUSTIN, Texas – Nov. 14, 2017 – Single-family home sales increased across the Austin-Round Rock Metropolitan Statistical Area (MSA) in October, but declined in the city of Austin, according to the October 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.

Brandy Guthrie, 2017 President of the Austin Board of REALTORS­® commented, “The Austin-Round Rock housing market continues to slightly outperform last year’s home sales activity, keeping 2017 on-pace for another record year for home sales. At the same time, low housing inventory levels along with constrained housing development activity throughout the city of Austin are preventing home sales growth at the city level.”

Single-family home sales in the

190 Views, 0 Comments.

Single-family home sales declined across most of the Austin-Round Rock Metropolitan Statistical Area (MSA) in September, while inventory levels continued to increase, according to the September 2017 Central Texas Housing Market Report released by the Austin Board of REALTORS®. 

>Brandy Guthrie, 2017 President of the Austin Board of REALTORS­® commented, “Despite last month’s dip in home sales activity, it’s important to remember that we’re comparing our current figures to the record-breaking housing market activity in 2016 and it’s not necessarily indicative of a downturn.”

Lawrence Yun, Chief Economist and Senior Vice President of Research at the National Association of REALTORS®, agreed: “Austin has had one of the fastest job growth rates in

544 Views, 0 Comments.

 

According to NTREIS Stats every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving. New Listings were up in the North Texas region 4.1 percent to 11,829. Pending Sales decreased 6.8 percent to 7,980. Inventory grew 4.3 percent to 27,352 units. Prices moved higher as Median Sales Price was up 6.7 percent to $240,000. Days on Market

316 Views, 0 Comments.

September 2017 DFW Housing Market Upate Infographic

August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cool down before any actual temperature change. However, in the DFW area competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes.

According to the report recently released by the North Texas Real Estate Information Systems, new listings were up in the North Texas region 7.4 percent to 13,612. Pending sales decreased 9.1 percent to 9,083. While the market is

456 Views, 0 Comments.

september 2017 Austin housing market statistics

The 2017 Central Texas summer selling season was the strongest on record in terms of single-family home sales and median price across the Austin-Round Rock Metropolitan Statistical Area (MSA). This is according to the Austin Board of Realtor's recently released market stats. Single-family home sales volume jumped in the city of Austin in August, while median price held steady according to the August 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.

Brandy Guthrie, 2017 President of the Austin Board of REALTORS­®, commented: “The Central Texas housing market just experienced the strongest summer selling season on record. The Austin-Round Rock MSA saw record-breaking growth, during which median price topped

833 Views, 0 Comments.

Dallas Fort Worth market Statistics August 2017

How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller's market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase.

According to a report recently released by North Texas Real Estate Information Systems, new Listings were up in the North Texas region 2.9 percent to 14,245. Pending Sales decreased 6.6 percent to 9,533. Inventory grew 5.2 percent to 27,969 units.

548 Views, 0 Comments.

August 2017 Housting Market Statistics

Single-family home sales volume held steady across the Austin-Round Rock Metropolitan Statistical Area (MSA) in July, while housing inventory levels posted strong gains, according to the July 2017 Central Texas Housing Market Report released recently by the Austin Board of REALTORS®.

"In years past, the high demand of the summer selling season has further constrained inventory levels and further pushed up home prices," commented Brandy Guthrie, 2017 President of the Austin Board of REALTORS­®. "This year has been different, with steady gains in sales volume as well as listings and inventory throughout the summer. During a month when housing inventory should reach its lowest point of the year, housing inventory across the Central Texas region is at

712 Views, 0 Comments.

July 2017 Housing Market Statistics Dallas Fort Worth

There has been a general slowdown in sales across the country, and this cannot be blamed on negative economic news. Unemployment remains low and wage growth, though nothing to overly celebrate, has held steady or increased for several years in a row. There is strong demand for home buying, emphasized by higher prices and multiple offers on homes for sale in many submarkets. As has been the case for month after month – and now year after year – low inventory is the primary culprit for any sales malaise rather than lack of offers.

According to North Texas Real Estate Information System's monthly report, New Listings were up in the North Texas region 10.3 percent to 15,542, which can only help the current price situation. Pending Sales decreased 5.6

679 Views, 1 Comments.

July 2017 Austin housing market statistics

Central Texas single-family home sales growth slowed in the first half of 2017 while home prices continued to grow at a steady pace, according to the Mid-Year 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.

“The Central Texas housing market continued to show signs of normalization in the first half of the year, with positive but more moderate gains in sales activity,” said Brandy Guthrie, President of the Austin Board of REALTORS®. “Homes are spending more time on the market, and housing inventory levels have slowly increased throughout the year. While it could take years for the region’s housing market to achieve balance between homebuying and selling activity, these trends indicate that the Central Texas

828 Views, 0 Comments.

June 2017 housing market statistics DFW

Home prices across the U.S. are reaching all-time highs, prompting worry over another boom-and-bust scenario like we experienced roughly ten years ago. Yet, as we glance across the state of residential real estate, what is clear compared to the last extended run of price increases is that lending standards are now much stronger than they were before. Incomes must be verified, a reasonable amount of money must be paid toward the home prior to purchase, and a more stringent loan approval process is in place to prevent a repeat performance of the Great Recession.

Unfortunately for DFW area millennials, the Dallas Morning News reports that “the average millennial in Dallas would have to save for 10.4 years in order to to afford a down payment on a

878 Views, 0 Comments.