Found 3 blog entries tagged as communities.

Realtor.com's analysis looked at median home listing prices, available inventory, forecasted price growth, commute times and unemployment rates when identifying the best markets for first-time homebuyers. GETTY IMAGES

Austin Business Journal shares, "Hutto is the best market for first-time homebuyers in the Austin area, according to a new analysis by Realtor.com.

The analysis identified the best markets nationwide for first-time homebuyers, as well as the top local city or suburb in major metro areas. Realtor.com examined median home listing prices, available inventory, forecasted price growth, commute times and unemployment rates when compiling the data.

The report lists median home prices of about $387,000 for Hutto, which is about 30 miles northeast of downtown Austin in Williamson County. That compares to a metro-wide median price of about $500,000, according to Realtor.com. The Austin Board of Realtors tracks slightly lower numbers on those fronts. ABOR…

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Nationally, 32% of homes are selling above list price. But in some areas, that percentage is much higher and still rising. SIRAANAMWONG VIA GETTY IMAGE

Austin Business Journal writes, "while high interest rates are prompting many sellers to drop prices at a record pace nationally, 13% of homes in the Austin metro are still selling above the listing price.

That's according to a new analysis of data from Redfin Corp., which found 32% of homes nationally sold above listing price in October — up 2.7 percentage points from a year ago.

As we've noted, a variety of factors suggest the housing market is shifting to give buyers more leverage in many markets. However, prices remain significantly elevated and, in many metros, are still on the rise — just not at the rapid pace of recent years.

In the Austin metro, homes sold for an average of 97% of the listing price in October.

Housing supply and…

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Homes under construction in the Oaks on Chisholm Trail neighborhood in Round Rock, Tex. (Montinique Monroe for The Washington Post)

"Adam and Tahnya Gaston arrived in this Austin suburb in June with a toddler, a dog and enough money for a down payment. But within days they scrapped their plans for buying a house, deterred by soaring home prices and rising mortgage rates. Instead, they’re paying $4,000 a month to lease a three-story house in a new development aimed squarely at renters.

As the housing market sours, families around the country are eschewing homeownership and turning instead to new homes in rental-only developments such as the one where the Gastons landed. When completed, the Oaks on Chisholm Trail will have 113 stand-alone homes, each with a kitchen island, two-car garage and tiny plot of lawn — all exclusively for rent.

It’s one of…

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