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...
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...
Texas cities dominated a ranking of the best real estate markets in the country, according to a recent WalletHub study — and Austin made the top 20. Full article here: 5 Texas cities dominate housing markets (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...
Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. But while slowdowns can be painful in the moment, history tells us...
As home builders aggressively slash prices to boost sales, prices of newly built homes are coming down. The median sales price of a new home in June was $401,800, which was about 5% lower than in May. Newly constructed homes in June were also far cheaper than existing homes. The median sales price of an existing home rose to a record high in June of $435,300. Full article here: Newly Built Homes Are...
American housing market is facing a persistent shortage. Home prices have reached historic highs and affordability has declined. Normally, in response to higher prices, housing supply would increase. However, new home construction has not kept pace with population growth and household formation, especially following the surge of demand in the wake of the pandemic. Full article here: America’s...
Typically, new homes carry a price premium over existing homes. From 2010 to 2019, this pattern held steady, with an average difference of $66,000. However, over the past five years, the gap has narrowed significantly, averaging just $24,800. Notably, this trend reversed in 2024. In both the second and third quarters, the median price of existing homes surpassed that of new homes. Full article...
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