Luxe Austin Homes - Buyers

"Here's where home prices grew the most in Q1 as affordability worsens for many Americans"

Story Highlights

• The National Association of Realtors says 83% of metro areas saw their single-family home prices grow in Q1.
• Nationally, the median single-family home price grew 3.4% in the first quarter.
• The Northeast performed the best in sales and price gains while the South lagged.

Austin Business Journal writes, "The U.S. housing market may be showing signs of softening but in most cities, single-family homes only got more expensive at the start of 2025.

A new report by the National Association of Realtors found 83% of metro areas tracked by the NAR saw their existing single-family home prices increase in the first quarter of 2025. While down from the 89% of metro areas that saw price growth in the fourth quarter of…

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"Mortgage Demand From Homeowners Recovers as Applications Rise for the Second Week in a Row"

Realtor.com reports, "Home loan applications slightly ticked up 1.1% for the second week, but are trending lower than last week when overall applications increased 11%.

The latest data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey shows a 1.1% increase on mortgage loan application volume on a seasonally adjusted basis from one week earlier. The refinance index decreased 0.4% from the prior week but was 44% higher than the same week one year ago.

"The most notable change in this week's data was the increase in purchase applications, which jumped 2.3% on a weekly basis and were up 18% year over year," says Hannah Jones, senior economic research analyst at Realtor.com®. "The spring housing market is picking up, and…

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"Here's how much Austinites spend renting instead of buying a home"

CultureMap Austin writes, "The affordability of homeownership seems to be a hot topic of 2025, and the cost difference between renting and buying a home in Austin adds up to more than $1,000 per month, according to a new housing cost analysis by SmartAsset.

The 2025 report, called "Renting vs. Buying: How Housing Costs Compare Across America," examined the median monthly homeownership and rent costs in 342 of the largest U.S. cities.

The study's findings revealed Austin homeowners spend a median $2,768 on their monthly housing costs, whereas renters spend about $1,764 in comparison.

Austin ranked No. 58 in the report's rankings of cities where homeownership is more expensive than renting.

This study compares median costs for each group of…

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"A new deal-breaker is derailing some home sales"

Austin Business Journal writes, "Real estate agents are struggling to close on deals because of the surging cost of homeowners insurance.

That’s according to real estate firm Redfin Corp.'s 2025 Industry Survey, which found 47% of surveyed agents said they have encountered more issues with home insurance during a transaction over the past year compared to the year before it.  

Overall, 21% of agents said they had "significantly more" issues recently with homeowners insurance, such as clients having trouble getting affordable insurance or canceling a purchase because of homeowners insurance. About 26% said they had "somewhat more" issues while 35.7% said it was about the same as the year before. 

In California, about 50% said they had…

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"Housing market shifts to favor buyers — but they're not buying"

Austin Business Journal writes, "Like much else about the U.S. economy, tariffs and broader uncertainty are weighing on home sales amid the industry's crucial spring season.

In March, more than 375,000 homes were newly listed on the market — an increase of nearly 9% compared to the same time last year, according to Zillow Group Inc. (Nasdaq: ZG) research. But newly pending sales were flat compared to last year, despite slightly lower average mortgage rates in March 2025 compared to a year ago.

That's despite several aspects of the market — including price cuts hitting their highest point in at least seven years — shifting to favor buyers.

Inventory rose to 1.15 million homes in March, an increase of 19% from last year and the most inventory…

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"Real estate agents see shift in priorities within housing-market decisions"

Austin Business Journal shares, "A substantial number of real estate agents believe climate change is affecting homebuyer decisions, and the impact is getting stronger in certain parts of the country.

Among real estate agents surveyed in real estate firm Redfin Corp.'s 2025 Industry Survey, 39% of the respondents said they believe climate change is impacting to at least some degree consumer choices about where to live and what homes to buy. That total included 13.2% who “completely agree” that climate change was impacting choices, and 25.8% who “somewhat agree.”

The 39% total is more than the 35.8% who "somewhat disagree" or "completely disagree." The balance of the respondents did not offer an opinion on the topic.

The number of respondents…

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"Mortgage Interest Rates April 17, 2025: Mortgage Rates Swing Up After Bond Sell-Off"

Realtor.com writes, "Mortgage rates swung up on Thursday compared to the previous week, inching toward the dreaded 7% level, following the recent surge in 10-year-Treasury yields driven by investor concerns about escalating global trade tensions. 

The average rate on 30-year fixed home loans increased to 6.83% for the week ending April 17, up from 6.62% the previous week, according to Freddie Mac. It is the largest one-week increase in 12 months. Rates average 7.1% the same week in 2024. 

"The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the thirteenth consecutive week," says Sam Khater, Freddie Mac’s chief economist. "At this time last year, rates reached 7.1% while purchase application demand was 13% lower than…

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"March median home prices drop year over year in Cedar Park"

Community Impact shares, "The median home sale price in the Cedar Park and Far Northwest Austin areas declined slightly for March 2025 when compared to the previous year.

The median home price in March 2024 was about $530,233, compared to $500,000 in 2025. The number of new and active listings also increased, while the region showed a slight decline in closed sales and homes under contract.

The 78726 ZIP code in northwest Austin saw a steep decrease in the number of homes sold when compared to the same time in 2024. The region dropped by 55.56% year over year, dropping from nine houses sold in 2024 to only four in 2025. The 78641 ZIP code, encompassing parts of Cedar Park and Leander, also saw a decline, dropping 19.58%, while other ZIP codes showed…

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"Discover Austin’s best homes with The Grossman & Jones Group’s expert touch"

In the competitive Austin real estate market, The Grossman & Jones Group, Compass Real Estate stands out by delivering a client experience defined by expertise, integrity and results.

Led by Todd Grossman and Michelle Jones, the group’s commitment to excellence has earned them a strong reputation, a referral-driven business and recognition among the top real estate teams in the city.

“Buying or selling a home is one of life’s biggest financial and emotional decisions, and being able to guide people through that journey is truly fulfilling,” Jones said.

The company has built its success on three fundamental principles: listening and prioritizing, continuous learning, and building lasting relationships. Every client’s needs are carefully assessed to ensure a…

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"Air conditioning now mandatory in Austin homes"

Austin City Hall has six changes to housing rules to know about.

Effective July 10:

• Air conditioning in homes is required

• Single stairway developments, recently chronicled in the ABJ, are allowed

• Homes in some areas face higher regulations due to fire and wildlife concerns

• Hempcrete, a plant-based construction material, is now allowed

• Electric vehicle charging stations will be required of some builders

• And pest control in apartment complexes must now include services to beat back bed bugs and scorpions

The city of Austin has a summary of the code changes here.

Source: Austin Business Journal 

Written by: ABJ Staff

Published: April 11, 2025

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