Despite the crisis in the mortgage market and the tightening of credit standards for home loans, the Austin Real Estate Market remains steady and strong. It is true that home prices in the Austin area overall are down from 2007, but the following factors show a positive trend:
The average sold price has rebounded by 7.9% to $252, 417 compared to January of 2006. New listings for January of this year are up 82% to 10,088 active listings compared to 7793 listings the same time last year.Neighborhoods such as Cedar Park and Round Rock have experienced strong positive trends in sale prices.Homes in Northwest and Southwest Austin are going to contract within days of being listed and many are receiving multiple offers. Austin’s unemployment rate is currently 3.3 %, below the statewide rate of 3.9 % and the national rate of 4.4%. Statewide, Texas has a positive job growth rate of 2%. This factor is a great help to the housing market.According to USA Today, Austin’s homes are about 5% undervalued, causing a large amount of investor interest.In simple terms, the outlook for the Austin Real Estate Market for 2008 is steady. This means there will not be large jumps in home appreciation, but at the same time, there will be steady positive price growth in popular neighborhoods—unlike many other large real estate markets nationwide. The growing amount of inventory will swing the market from seller’s to buyer’s favor in 2008, and there will be many excellent values to be had. During the house value boom, from 2002 to 2006, home values in Austin overall did not have the radical upward swings that markets in L.A. or Miami had. Because of this, there is not a corresponding huge downward swing in home value in the Austin Real Estate Market.
Sponsored by Austin Real Estate Lakeway
Seth Callen is an insurance and mortgage broker in Lawton Oklahoma.
- Related Videos
- Related Articles
- Ask / Related Q&A
- The New Rules of Austin Real Estate: Austin Realtor Predicts Home Prices Will Drop
- Where to Find Great Commercial Real Estate Deals
- Myths About Real Estate Agents
- The Benefits of Buying Real Estate in a Bad Neighborhood
- The Benefits of a Good Faith Estimate and Pre-approval When Buying Real Estate
- Profiles in Green Building: the Austin Real Estate Market
- Austin Real Estate Agents
- Austin TX Real Estate - Finding Austin Real Estate
The 8 Main Questions You Must Ask Moving Companies In Seattle Before Hiring One
By: Joe Tacoma | 29/11/2009Whatever the type of move, be it a residential or office move, be it a small or big one, in order to ensure that everything is handled correctly and safely, you must hire a professional moving company to help you. But read this carefully: do not hire just ANY company. Prior...
Find Bank Owned Properties Easily
By: Peter Horspen | 29/11/2009Never in history have there been so many foreclosure properties available for the investor or the buyer. It is now possible to get a dream home for as little as $10,000. Learn how to find these hidden gems.
Condominium Buyers: Your Checklist for Buying Condos
By: Katrina | 29/11/2009Living in condominiums is not much far from living in a single-family dwelling or even an apartment. However, there are certain points that a person should consider before making the purchase.
Seven Hills, Georgia : Nothing Trounces This Place Whole Year Round
By: Jason Cantrantz | 29/11/2009For Georgians, nothing will ever amaze Lake Arrowhead. It bids a heaven of purely outdoor recreation with a very discrete positioning All year through. Each and every season, Seven Hills, Georgia supplies you a distinct beauty. It may be about the weather condition or the season, but to be straight,...
When Banks Reject Your Offer on a Short Sale
By: Katrina | 29/11/2009Things you should know when you get rejected and how to get your lenders to say yes on the second attempt.
Qualifying for the Best Mortgage Rates
By: Lokesh | 29/11/2009The key to obtaining the best interest rate against your housing loan is to have a healthy credit score. The credit score information is collected and processed by the three credit rating agencies in the United States. It is in your best interest to have a healthy and respectable credit history which is reflected in your credit score.
Over 55 Communities: Benefits for the Old Age
By: Katrina | 29/11/2009Since there is always that special place that everyone wants to have during retirement, certain kind of communities were built to make retirement happier and the perfect place to be at old age. Over 55 Communities is just one of them.
Inexpensive Updates Before You Sell Your Home
By: Katrina | 29/11/2009Every homeowner, who intends to enter the home selling endeavor, should find a way to make their homes stand out against its competitors. But how to make this happen, especially if the competitors are located within the same area. The best thing to do is make updates to one's home.
Dallas Real Estate Market
By: Seth callen | 31/01/2008 | Real EstateThe Dallas Real Estate Market has cooled off, there are less homes being built and sold in the area, but market conditions are not nearly as bad as one would expect.