“Love our interest rate, but this house doesn’t fit our needs anymore.” Many people worry about finding their next home, or the rates remaining high. But there’s a price to waiting. This might be the best time to get top dollar for your home. The Price Sellers Pay for Waiting More competition – a projected 13% increase in sellers in 2024. More competition from new construction – new home sales are projected to keep rising. More risk for expensive repairs that can wipe out savings.     The Price Buyers Pay for Waiting 40% of potential buyers said they won’t wait for rates to drop ..read more

February data reveals increased opportunities for first-time homebuyers   In February across the Austin-Round Rock-Georgetown MSA, new listings jumped 44.9% to 3,915 bringing the total months of inventory for the region to 3 months. The data indicates that sellers are feeling more favorable about the market, while buyers have a broader range of home options to select from–specifically first-time homebuyers. Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®  “Higher home prices and mortgage rates have diminished affordability for first-time homebuy ..read more

Home Renovations Does your home suit your needs? One in four people say they outgrew their home after two years. When life’s circumstances change, whether it is family of work-related, it may be time to make a change in he home as well.     Why We Need to Renovate Family milestones (marriage, newborns, kids growing up) Loved ones move in (aging parents or returning young adults) House functionality (damaged roof, no laundry room, outdated kitchen) Need room for a home office Space crunch (too few bathrooms, not enough storage)   Options to Consider Reconfigure how you curre ..read more

January data signals optimism in 2024 for Austin area The first market analysis of the year released by Unlock MLS shows an increase in residential homes. Homes sold, up 4.3% to 1,667 closed sales, and an uptick in pending sales, which rose 3.8% to 2,480 listings. The data demonstrates that more options are available for potential homebuyers and sellers are feeling optimistic moving into 2024. Clare Losey, Ph.D., “January marks the fifteenth consecutive month of year-over-year median sales price declines in the Austin Round Rock housing market, empowering more homebuyers to enter our mark ..read more

The #1 Reason People Move: To be Closer to Family   What Gets in the Way of Connecting with Loved Ones? Life gets busy Financial constraints Work or health A vast country with multiple time zones “Let’s wait for the right time.”   Let’s Strengthen Our Ties! Visualize your ideal family outcome Find creative ways to always stay connected Be realistic with your time and resources Don’t procrastinate; brainstorm ways to meet in the middle Let FOMO guide you!   People on the Move! Declining mortgage rates and significant personal milestones create pent-up demand for both buyers ..read more

2023 CENTRAL TEXAS HOUSING MARKET PERFORMANCE UNDERSCORES NEED FOR IMPROVED HOUSING AFFORDABILITY Home sales accounted for more than $17 billion in economic activity in 2023 AUSTIN, TX — In 2023, the median price for a home in the Austin-Round Rock MSA decreased 10.2% to $450,000, according to the Austin Board of REALTORS® December 2023 and Year-End Central Texas Housing Market Report. When compared to the steep 24.2% decline in pending sales in 2022, 2023 saw a slight 3.0% decline to 30,353 sales emphasizing that the Central Texas housing market continues to find its footing despite macroecon ..read more

What’s Ahead for the Housing Market When rates start to decline there will be an influx of buyers and sellers. Housing demand will be fueled by the largest generation of potential homebuyers ever – the millennials. U.S. Millennial Population: 72 Million Median age of people moving out of their parents’ house is 26 Median age of first-time buyers: 35             The Impact of Baby Boomers Largest group of all homeowners are 65+ Buyers 57+ are more likely to downsize Baby Boomers are 52% of sellers             Average Homeowner Eq ..read more

Home Sales in Austin Remain Strong Despite Continued Higher Rates Housing inventory increases while median sales prices drop The median home price across the Austin Round-Rock MSA dropped 8.4% to $424,450 last month. Indicating Austin’s housing supply is becoming available at lower price points, but considerably elevated relative to pre-pandemic levels. While mortgage rates remain elevated, the Central Texas housing market experienced a slight increase in residential homes sold across the MSA, rising 0.2% to 2,065 total sales. “Buyers in Central Texas now have a more abundant selection of home ..read more

Holiday Season Party Ideas               Host a gathering your family will always remember – a fabulous party featuring a fun theme, curated playlist and plenty of delicious food and drinks. Here are a few creative ideas: Comfort and Joy Potluck – Ask guests to bring their favorite “comfort food” and its recipe card to share. Try to let everyone know what other guests are making ahead of time to prevent duplicate dishes. Play soothing jazz or easy listening music. Invite guests to wear their favorite pajamas or leisure wear.  My Favorite Things ..read more

ABOR: BUYERS WILLING TO ENTER MARKET  DESPITE HIGHER INTEREST RATES Closed sales increase, median price declines across MSA   AUSTIN, TX — The median home price across the Austin-Round Rock MSA dropped 7.5% to $435,000 in October, according to the Austin Board of REALTORS®. The market experienced an increase in residential homes sold across the MSA, which rose 4.1% to 2,337 total sales demonstrating that buyers are finding value in the market despite higher interest rates. “An increase in sales and a jump in pending sales indicates buyers continue to enter the market and are finding ..read more