Austin American-Statesman writes, "Steady as she goes.
That about sums up the 2025 outlook by real estate experts for the housing market in the Austin metro area, a five-county region stretching from Georgetown to San Marcos.
Peering into their crystal balls, several leading experts who have tracked the ups and downs of the Central Texas real estate market for years, even decades, foresee stable conditions this year. They predict the 2025 housing landscape could mirror last year's, as more normal trends continue in the wake of the COVID-19 pandemic era buying frenzy, when multiple offers, often well above asking price, were common.
Those expected trends include home prices remaining relatively flat; a steady supply of housing; predictable mortgage interest rates; and consistent sales, all factors that should help better inform decisions for both buyers and sellers.
In short, barring unforeseen local, national or global events, experts say this year's local housing market could look like a repeat of 2024's.
“2025 market activity will likely look similar to trends observed in 2024 with the median sales price and closed sales hovering between a range of 5% up or down year-over-year," Clare Knapp, housing economist for the Austin Board of Realtors, said recently. "This stability will give homebuyers and sellers clear expectations to plan their next steps with greater confidence."
For house hunters, the anticipated continued growing supply of homes means more choices, and — in some cases — lower prices. That's because some sellers, given higher interest rates and slower sales, might have to consider lowering their asking prices to attract buyers as inventory swells and mortgage rates hover in the 6% range.
Mortgage rates are projected to stay in that range during the first half of this year, but they could dip into the 5% range later in the year, according to the Austin Board of Realtors.
"The predictability in mortgage rates should provide both buyers and sellers with a stable framework for planning, reducing uncertainty and allowing for more confident decision-making," the Austin Board of Realtors said in a recent news release."
Source: Austin American-Statesman via Yahoo!News
Written by: Shonda Novak
Published: February 4, 2025
Posted by Grossman & Jones Group on
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