Happy Thursday, Y'all! The new season is officially here, and after recent 100+ degree blazing temps in Austin, I’ve thoroughly been enjoying this current cold front that's blown through! As for cooling down, I know that there’s been a lot of recent chatter about whether or not the housing market is cooling down as well, and after having the pleasure of hearing from market expert Mark Sprague, the State Director of Information Capital for Independence Title in Austin, I believe he said it best: “If it’s slowing, than it’s slowing from about 200 mph to 180 mph.”
There’s still a very high demand for homes in the area, so for potential sellers, it’s important to know that inventory is still at an extreme low of .9 months, and this isn’t expected to change much in the next upcoming months. It’s an ideal time to sell, but keep in mind that if there’s any interest in buying and finding something at the right price in Austin, then NOW really is the time to do so. Buyers can take incredible advantage of low interest rates and less competition than months past. Plus, home prices are no longer shifting dramatically from month to month, so it’s easier to predict trends and stay on top of the market. (See below for the latest Austin housing market report for August.)
Sprague also shared some fascinating insight into Austin’s job market, including how Austin is the only major U.S. metro market to recover fully from job losses due to the pandemic! Even statewide, Texas’ overall pandemic job loss is less than any other large state.
Austin is thriving, and it’s only going to go up from here. According to Sprague, with an already whopping population increase of 32.7% between 2009 and 2018, the population of Austin MSA is expected to more than double in size to more than 4.5 million residents by 2050! It’s an incredible time to be experiencing all of this exceptional growth and excitement as it enfolds, and if you (or someone you know) are ready to be a part of this special Austin community as well, my team and I are happily ready to help with any and all real estate needs!
Let me know if you have any questions, requests, or even if you just want to say hello and chat. I’m always here if you need me. :)