Propelled in large part by rock-bottom interest rates for mortgages, the homeownership rate in the Austin area has skyrocketed.
An August 12 report from the Texas A&M Real Estate Center shows the homeownership rate in Austin hit 65.3 percent in the second quarter of this year. That’s up from 59.4 percent in the first quarter of 2020 and represents the steepest climb in homeownership among Texas cities.
Since the real estate center began tracking Austin’s homeownership rate in 1996, the highest rate was 69.3 percent, seen in the third quarter of 2006; the lowest rate was 49.2 percent in the fourth quarter of 1996.
The upward trend mirrors what's happening statewide. In June, Texas' homeownership rate hit a new high mark.
According to the…
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