For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them. But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this...

  Want to know something important you probably don’t have a professional check for you nearly as often as you should? Spoiler alert: it’s the value of your home. Because here’s the reality. Your house is likely the biggest financial asset you have. And if you’ve lived in it for a few years or more, chances are it’s been quietly building wealth for you in the background – even if you...

Waiting for interest rates to drop when looking for a home  A while back, I penned a piece here on this particular site telling a story about a longtime friend who was preapproved for a mortgage before rates started to jump but she waited too long and the rates had moved to a point where she could no longer qualify. Fortunately, she had the assets to be able to put more down therefore borrowing less....

  The latest housing data caps a lackluster summer, with home sales largely stalled as buyers appear to hold back for the right opportunity. But recent reports suggest the fall season could breathe new life into the housing market. Full article here: Could a Real Estate Sales Shift Be Ahead This Fall? (512) 853-0110 or robert@AustinTxHomeSales.com If you are unable to open the link/article...

  Mortgage rates in September trended lower as the bond market priced in expectations of rate cuts by the Federal Reserve. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.35%, 24 basis points (bps) lower than August. Falling mortgage rates have already shown an impact on housing activity. New single-family home sales in August jumped 20.5% from the previous month. Full article...

Below is one of several articles you will see in this newsletter pertaining to mortgage rates.  When the Federal Reserve dropped the rate by one quarter percent in September, the long-awaited change set off a series of positive effects on our home sales market.  Jerome Powell, the Federal Reserve chairman essentially killed our robust housing market that ran from June/2020 to June/2022 by...

  You may have seen online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary. But here’s what you need to remember: a lot of what you see online is designed to get clicks.  Full article here: What Everyone’s Getting Wrong About the Rise in New Home Inventory (512)...

NAR Chief Economist Lawrence Yun explains how today's housing market differs from the 2008 housing market crash.  Full article here: Ask the Economist: How Does the Current Market Compare to the 2008 Housing Market Crash? (512) 853-0110 or robert@AustinTxHomeSales.com If you are unable to open the link/article above, please let me know so I can get it to you another...

  Single-family built-for-rent construction fell back in the second quarter, as a higher cost of financing crowded out development activity. Over the last four quarters, 71,000 such homes began construction, which is a 16% decrease compared to the 85,000 estimated SFBFR starts in the four quarters prior to that period. This is great news as these large institutional investors buying up homes the past 10...

  Home buyers today are navigating elevated mortgage rates and high prices that have been blamed for straining budgets. At first glance, new construction—which often carries a premium over resale homes—may seem out of reach. But a new study from realtor.com® shows the price gap between newly built and existing homes has fallen to a record low.Prospective Buyers Rush for Loans as Rates Drop Full...