Sitting at the front desk of my office, you can just tell we are in a hot market right now. Agents are running in and out constantly, trying to get all their stuff together since they have numerous meetings to attend with new clients or showing current clients all kinds of homes. So many checks are flowing in, we can barely keep up! But hey, job security! And it is so nice to see my agents doing so well! I figured I could do a quick blog about the housing market right now and how amazing it is…
Housing trends are generally pretty steady, but can get volatile under certain circumstances. In 2008 we went through the housing crash, which was devastating for many people. But in the last few years it has steadily risen and stayed decently consistent. According to Dave Ramsey “2018 was quite the tease in the housing market. The year started out hot, only to taper off halfway through.” And there has been an increase in home prices. This can be due to less homes to buy and a more competitive listing environment, especially in the Austin area. Mortgage rates are on the rise but that is never really a surprise.
Austin is becoming a hub for tech companies creating a sphere of constant real estate business. However, there is a constant stream of new people but with a low inventory of housing. This creates a competitive market that increases housing prices. But, this will not stop people from buying when they have to live here and work. Austin is full of new job opportunities and this draws new people every day!
The outlook for Austin is a steady and hot market. The new companies being built here will only bring new people and new business. Hopefully this is a sunny outlook for you, especially since we are getting into summer! Keep those leads going, there are bound to be more!