Luxe Austin Homes - Buyers

"Homebuyers are gaining leverage — but the minimum income to buy is surging"

Austin Business Journal writes, "Americans now need to earn $114,000 per year to afford a median priced home.

That's an increase of 70.1% above the $67,000 required to afford that same mid-range home in 2019, according to data from Realtor.com. It's an increase driven by sky-high appreciation, persistent supply constraints and stubbornly high interest rates, among other factors — and the dynamic continues to weigh heavily on the housing market, even as buyers gain leverage.

The data looked at median home prices each April for the past six years.

“Even with today’s affordability hurdles, meaningful changes in the market could give buyers a better shot at finding a home,” said Danielle Hale, chief economist at Realtor.com. “The number of homes…

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"Home sales in the Austin metro could heat up this fall"

Austin Business Journal shares, "While home sales in the Austin metro continued to slow in July, pending sales ticked up — potentially suggesting stronger sales activity heading into the fall.

That’s according to the latest market data from Unlock MLS, which found that the metro recorded 2,492 home sales last month, down from 2,823 in June and from about 2,700 home sales in July 2024. On the flip side, pending sales clocked in at 2,829 last month, up from 2,706 in June and about 2,440 in July 2024.

As sales have slowed, home prices have dropped. The median sales price in the metro fell from $449,000 in June to $435,000 in July.

“It’s typical for the summer market to slow as people focus on travel and leisure; we often see activity pick back…

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"The House You’re Negotiating on Is ‘Accepting Backup Offers’—Now What?"

Realtor.com writes,"You found the house, made an offer, and got the good news: The seller accepted. But when you check the listing a few days later, you notice it’s still marked as “accepting backup offers.” What does that mean—and should you be concerned?

In today’s competitive housing market, it’s not unusual for sellers to hedge their bets, especially during the early stages of a deal.

Here’s what to know if the home you’re trying to buy is still technically on the market.

What it means when your offer is accepted—but the listing is still open

An accepted offer is an important step, but it doesn’t guarantee that the sale will close. Between acceptance and closing, there’s a window—known as the contingency period—where several things can…

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"Why now’s the time to buy in East Austin's Whisper Valley"

CultureMap Austin writes, "If you've been dreaming of homeownership in Austin but assumed it was out of reach, it’s time to think again, especially during the Summer Sales Spectacular at Whisper Valley.

Running now through September 15, this sustainable master-planned community in East Austin is offering some of the most exciting deals in Central Texas real estate.

Big savings, big incentives
Whisper Valley is currently offering completed, zero energy capable homes at some of the lowest prices ever: from the low $300s to the $500s.

In addition to these competitive prices, builders are helping homebuyers with interest rate buydowns to make monthly payments more affordable, plus offering up to $30,000 in incentives to help cover closing costs.

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"The National Observer: Real Estate: National housing market continues shift to buyers"

Austin Business Journal writes, "The housing market has seen a decent amount of shifting this year amid broader economic uncertainty and an uptick in inventory.

While new listings and home construction are welcome news in a market that's been starved of inventory for years, there are still a lot of challenges for both buyers and sellers.

The national median profit margin on home sales fell to 50% in the first quarter of this year — down 3.2 percentage points from the fourth quarter of 2024 and down 4.8 points from the first quarter of 2024, reports The Business Journals' Joanne Drilling. It's also down from 64% in 2022.

As I get into in today's lead story, the changing housing market has had some sellers rethink how much they list their homes…

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"Austin Home Prices Down in June"

Realtor.com reports, "In June, home prices fell substantially from the month before, with a median listing price of $617,500.

The number of listings on the market grew 5.0%, which is a smaller increase than normal for this time of the year in Austin, and homes are also selling slower than at the same time last year.

Home prices in Austin

Typically, home price per square foot in Austin tend to rise in June. But the most recent data shows that the price per square foot decreased by 3.3% compared with the month before.

So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.4%, which means price changes in the Live Music Capital of the World are lagging behind the national market.

Austin…

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"Central Texas home inspectors provide insight on the inspection process"

Community Impact writes, "President Kyle Nunnallee of Nunnallee Inspections and owner Casey Callais of Constructiva Inspections shared with Community Impact what homeowners should know about home inspections.

Established in 2003, Nunnallee Inspections has served the Central Texas area for over two decades, offering home buyer and seller inspections alongside new build and commercial inspections.

Callais launched Constructiva Inspections around four years ago, offering nearly 30 years of construction industry experience. Constructiva specializes in inspections on newly constructed homes but also offers inspections for resale homes, commercial properties and more.

Both companies offer services to the Central Texas area.

Why would someone need a home…

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"Austin homebuyers gaining negotiating power"

Austin Business Journal writes, "Homebuyers in the Austin area are gaining the advantage as competition heats up among sellers.

The metro's housing inventory continues to hover around the six-month mark and new listings have increased 43.6% year-over-year to 17,662 active home listings, according to Unlock MLS’s latest market report. However, the median sale price of a home in Austin in June was flat at $450,000 compared to the same time last year.

“We’re not 100% in a buyer’s market, but we’re pretty close,” said Brandy Wuensch, 2025 Unlock MLS and Austin Board of Realtors president. “Buyers definitely have more power to negotiate and get a lot more favorable terms from sellers in terms of closing costs.”

Sellers are having to become more…

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"Austin ranks among 20 best large U.S. cities for first-time homebuyers"

CultureMap Austin writes, "As Austin's real estate market slowly bounces back after several years of high housing prices, a new WalletHub analysis has revealed it is the 19th best large U.S. city for first-time homebuyers, and the No. 1 big city in Texas.

WalletHub's study ranked 300 U.S. cities across 22 metrics based on affordability, quality of life, and the status of each city's real estate market, including factors like active listings per capita, homeownership rates for millennials, and more. Cities were ranked overall and based on population size: Large cities with more than 300,000 residents; midsize cities with populations between 150,000-300,000 people; and small cities with fewer than 150,000 people.

Palm Bay, Florida ranked as the…

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"Buyers Are Gaining Market Power as Mortgage Rates Dip Another Week"

Realtor.com writes, "The sour outlook from consumers, and the consistent "wait-and see" policy from the Federal Reserve, helped push interest rates lower, including mortgage rates dipping to 6.77% for a 30-year fixed home loan. The dip was housing-friendly but small, so its impact will be modest.

Inflation, which showed the Fed’s preferred gauge, rose 2.3% in the year even as the index excluding food and energy prices edged a bit higher. Consumer confidence slipped in June, and while consumer sentiment improved, both measures remain at a concerningly sluggish level. 

The April Case-Shiller home price index showed regional divergence, with price gains strongest in Northeast and Midwest markets, like New York City, Chicago, and Detroit. Southern…

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