Found 13 blog entries tagged as first-time homebuyers.

Austin Business Journal shares, "The Austin-area housing market has reached a stalemate between buyers and sellers — and that's allowing much-needed inventory to catch up and prices to hold steady.

A few years ago it was common for some parts of Central Texas to have a week or two of housing stock. Home inventory in May was clocked at 4.9 months — 1.5 months more than a year ago. It's a level of inventory that hasn’t been seen in 13 years, according to the Unlock MLS report on the Austin Board of Realtors website. Housing experts often say six months of inventory is representative of a healthy market.

“The good news is that we are moving toward a more sustainable level of inventory, which will provide price stability for sellers and more choices for…

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Denser housing may be on its way to Austin soon. Photo by Micah Carlson on Unsplash

CultureMap Austin writes, "Austin-Round Rock-Georgetown experienced its highest year-over-year increase in home sales this past April, illustrating a growing optimism in the metro area's housing market. That's according to the latest real estate report from Unlock MLS and the Austin Board of Realtor (ABoR).

More than 2,700 homes were sold in April across the Austin-Round Rock-Georgetown MSA, which is a 5.9 percent increase from this time last year. Median prices landed at just under $470,000 in a 1.1 percent increase year-over-year. There were 10,808 active home listings on the market, which is nearly a 32 percent jump from April 2023.

"Despite the higher rate environment, the uptick in affordable inventory in the $300,000 range is allowing more…

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To address persistent affordability challenges and expand housing options, it is imperative for elected officials, policymakers, and our community to review and revise existing land use regulations. GETTY IMAGES

Austin Business Journal writes, "Austin has a housing crisis with a lack of housing considered affordable to the majority of its residents. Professionals including teachers, EMS workers, firefighters and recent college graduates are being priced out of the communities they serve. Increasing mortgage rates, elevated home prices and limited inventory of affordable homes are some of the barriers to homeownership in Austin, particularly for would-be first-time buyers. To afford a $540,000 home, Austin’s median sales price in 2023, a household must make $180,000. This makes it extremely difficult for many to purchase a home here, driving them out of Austin and into the suburbs. The bottom line is that homeownership is unaffordable and unattainable to many…

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This three-bedroom, 1956 cottage at 6501 Linda Ln. is quintessentially Austin and right at median price: $450,000. Keller Williams Realty/kw.com

Culturemap Austin writes, Austinites looking to own a home for the first time may be in luck this year, as the housing market is finally starting to look more lucrative for buyers. The post-pandemic homebuying craze left many scared and uncertain about the possibility of becoming homeowners with prices and rates skyrocketing. However, 2024 is shaping up to be a lot more hopeful for those wanting to trade renting for owning.

According to the US News & World Report market forecast for Austin, the current housing market is favoring buyers as mortgage rates are coming down, there’s a more balanced supply and demand of both new and existing homes, and median prices have slowly dipped by 4.2 percent over the past two years. At its peak in 2022, the…

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Austin American-Statesman writes, "With the typical busy spring buying season upon us, what's happening in the Austin-area housing market?

The Austin Board of Realtors just released its monthly housing report, which shows that there were 4,714 new home listings across the Austin-Round Rock-Georgetown region last month, 10.2% more over the prior March. The increase has led to four months of inventory in multiple parts of the Central Texas region as the market continues to stabilize, the board said.

The board said 2,563 homes sold last month, down 0.3% from March 2023. The median price last month was flat year-over-year, with half of the homes selling for more than $450,000 and half for less.

The numbers indicate that homeowners have confidence…

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CultureMap Austin reports, "more homes hit the market in the Austin area in March, inspiring confidence among home sellers while simultaneously boosting options for first-time homebuyers, according to the latest real estate report by Unlock MLS and the Austin Board of Realtors (ABoR).

There were more than 4,700 new home listings placed on the market in the Austin-Round Rock-Georgetown metropolitan statistical area (MSA) in March, which was a 10.2 percent increase year-over-year from March 2023. Housing inventory in the Austin area has now climbed for two straight months, after a previous real estate report showed more than 3,900 new home listings were added in the month of February.

"In an era marked by economic resilience and favorable market…

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Culturemap Austin shares, "It's not easy to buy a home anywhere, but folks in Austin are doing way better than average, according to Zillow. Texas' capital ranked No. 5 among the top 10 U.S. cities for buying a first home.

In 2023, new homebuyers occupied the largest slice of the market since the report started in 2018, making up about half of all buyers. The demographic was only 37 percent in 2021. It cites the "rate lock" effect for keeping "repeat buyers" from moving on too quickly and abandoning their lower mortgage rates. Hopefully strength in numbers gives newcomers a little more power against flippers and developers.

The new Zillow report further helps follow purchasing power, identifying places with a larger selection of homes and more…

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New listings for homes for sale in the Austin metro climbed in February. BRANDON LAUFENBERG

Austin Business Journal shares, "New listings for homes for sale in the Austin metro surged in February, a rise driven largely by lower-priced homes that are considered affordable for first-time homebuyers, according to data from the Austin Board of Realtors.

February saw 3,915 new home listings in the metro, according ABOR’s latest market report. That’s up from just 3,064 in January, and an increase of more than 40% year-over-year from the 2,764 new listings reported in February 2023.

ABOR housing economist Clare Losey said many of the new listings are for homes priced under $400,000.

“Higher home prices and mortgage rates have diminished affordability for first-time homebuyers over the past few years, but February provided encouragement for…

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Culturemap Austin shares, "homebuyers and sellers are starting to feel optimistic about the Austin-area housing market, according to a new report by the Austin Board of Realtors.

According to the latest analysis by Unlock MLS, which provides real estate data across the Austin-Round Rock-Georgetown metropolitan statistical area (MSA), bothpending and closed sales increased slightly in January compared to the previous year. 1,667 homes were sold last month, up 4.3 percent; There were also 2,480 pending sales, up 3.8 percent.

Median prices in the MSA dipped slightly year-over-year to $430,000. Unlock MLS and ABoR housing economist Clare Losey, Ph.D., shared that the recent decline in mortgage rates has allowed for lower home prices heading into…

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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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