As housing affordability remains a critical challenge across the country, mortgage rates continue to play a central role in shaping homebuying power. Mortgage rates stayed elevated throughout 2023 and early 2024. Recent data, however, shows a modest decline in mortgage rates. Even slight declines can have a significant impact on housing affordability, pricing more households back into the...

Private residential construction spending increased by 1.3% in February, rebounding from a 1.2% dip in January. The growth was largely driven by higher spending on single-family construction and residential improvements. On a year-over-year basis, the February report showed a 1.6% gain, indicating a modest growth in private residential construction spending during market uncertainties.  Full article...

  A notable uptick in housing inventory nationwide may be pulling the real estate market out of a long winter hibernation. Total existing-home sales, which account for completed transactions for single-family homes, townhomes, condos and co-ops, rose 4.2% month over month in February. “Home buyers are slowly entering the market,” even as mortgage rates and home prices appear frozen at elevated...

  An Austin developer has kicked off construction on the first phase of a six-story luxury condominium project just west of downtown. Located at 300 Pressler St., just a few blocks from Austin's Whole Foods flagship store, the initial phase of the development, called the Belvedere, will have 158 upscale condominiums. A second phase will add about 50 more condo units, bringing the total to about 208 for...

  Existing home sales in February increased to the second highest level since March 2024, according to the National Association of Realtors (NAR). This rebound suggests buyers are slowly entering the market as inventory improves and mortgage rates decline from recent high in January. Full article here: Existing Home Sales Increased in February (512) 853-0110...

  Texas’ economy continues to grow rapidly, outpacing the nation in the fourth quarter of 2024. According to data from the U.S. Bureau of Economic Analysis, Texas’ real gross domestic product (GDP) grew at an annual rate of 3.5% in the fourth quarter of 2024, compared to the U.S. average of 2.4%. GDP represents the total value of all goods and services produced within the state over a specific...

Homeownership is a symbol of financial stability for most Americans—but for those living in states where the cost of living is higher, it might seem like they're working solely to keep a roof over their heads. The median home price nationally is $412,000, according to the Realtor.com. Full article here: The Number of Days You Need To Work To Afford a Monthly Mortgage Payment  (512) 853-0110...

  Overall housing starts increased 11.2% in February to a seasonally adjusted annual rate of 1.50 million units. Within this overall number, single-family starts increased 11.4% to a 1.11 million seasonally adjusted annual rate, the highest pace since February 2024.  Full article here: Single-Family Housing Starts Hit 12-Month High in February (512) 853-0110...

  Adults ages 60 to 78 appear to be brushing off current housing challenges more easily than other age groups. Find out what baby boomers—and other age groups—are expecting from their agents to help them succeed in today’s housing market. Full article here: Flexing Their Equity, Baby Boomers Are Driving the Housing Market (512) 853-0110 or robert@AustinTxHomeSales.com If you are...

  A study shows that 70% of prospective buyers fear the long-term consequences of renting. And here’s why.​ Rent usually rises over time and that can make it harder to save up to buy a home. But when you buy, you can stabilize your housing expenses and grow your net worth as home values rise. While renting may be the less expensive option in some markets, it can’t match the long-term benefits of...