Luxe Austin Homes - homebuyers

"Santa Rita Ranch yet again ranks among best-selling neighborhoods"

Austin Business Journal reports, "Liberty Hill’s Santa Rita Ranch has claimed the title of top-selling master-planned community in the Austin area for the third consecutive year.

That distinction comes despite an overall drop in sales, according to Robert Charles Lesser & Co.’s 2022 list of the top selling master-planned communities nationwide. No other Austin-area neighborhood sold enough homes to rank in the country's top 50.

In all, 450 Santa Rita Ranch homes were sold in 2022. That was good enough for the development to top all rivals in the Austin area and secure the No. 32 spot nationally.

RCLCO has conducted a survey to identify the top-selling master planned communities since 1994.

According to Santa Rita Ranch developer Ed Horne,…

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"Will High Inflation and Recession Fears Lead to a Drop in Remodeling?"

Realtor.com writes, "during the height of COVID-19, it seemed like everyone knew someone who had bought a home and then remodeled the kitchen, created a home office or gym, or turned the scraggly backyard into an outdoor oasis.

But as the pandemic enters its fourth year, most folks are no longer trapped in their homes obsessing over every flaw. The homebuying frenzy that typically spurs remodeling work has died down. And many people are more concerned with high inflation and the looming threat of a recession than their dream en suite bathroom.

Where does that leave the remodeling industry? In fairly good shape, say most experts. Homeowners are expected to spend even more on remodeling, repairs, and maintenance in 2023 than they did in 2022.

…

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"Mortgage rates fall for the sixth week in a row"

Yahoo Finance reports, "mortgage rates dropped for the sixth straight week, but housing activity remained muted going into the holidays.

The rate for the average 30-year fixed mortgage slipped to 6.27% from 6.31% the week prior, according to  Freddie Mac . Rates have fallen more than three-quarters of a point since mid-November after the Federal Reserve signaled that it would slow its interest-rate hikes amid cooling inflation.

Still, rates remain 3 percentage points higher than they were at the start of the year, leaving many first-time buyers on the sidelines and sellers — who haven't pulled their listings — more willing to negotiate.

“Heading into the holidays, mortgage rates continued to move down,” said Sam Khater, Freddie Mac’s chief…

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"Buyers rejoice: Austin-area housing market ends streak of record-setting prices, sales"

Austin Business Journal reports, 'the median sales price of a home in the Austin-Round Rock metro was essentially unchanged in November from a year prior, the first time that's happened since February 2019, according to the Austin Board of Realtors.

The median price actually decreased, but just barely at 0.4%, to $467,955 — compared with $470,000 in November 2021, ABOR said Dec. 15. It's the latest sign of a cooling trend in the region's housing market, which is also seeing increased inventory and time spent on the market.

Ashley Jackson, an agent with Realty Austin and 2023 president-elect of ABOR, last month told Austin Business Journal there's hope the moderate adjustments are signs of a return to a more normal, seasonal market — as opposed…

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"Austin metro's home price is flat for the first time since 2019, report says"

Culturemap Austin writes, "The Austin housing market is normalizing, and for the first time since before the pandemic, metro home prices are not on the rise.

According to the Austin Board of Realtors' latest monthly report, November 2022 marked the first time since February 2019 that the median home price for the Austin-Round Rock metro area was flat. The metro's median registered at $467,955 last month, the same as November 2021, meaning 0 percent year-over-year growth.

At the same time, housing inventory nearly quadrupled from last year, to 3.1 months at the metro level, and the average time spent on the market grew to a whopping 58 days, leading to further market stabilization.

At the city level, Austin actually saw a drop in its median…

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'Home Prices Just Hit a Turning Point After Nearly a Year, but Will Buyers Miss It Amid the Holidays?'

Realtor.com writes, "while many homebuyers might be taking a break from their house hunt to indulge in some eggnog and holiday cheer, the few stalwart home shoppers still out there right now have a fantastic opportunity on their hands.

Want proof? Home price growth fell to 9.5% for the week ending Dec. 10, down from 10.3% for the week ending Dec. 3. And that shift to single-digit growth is significant.

“This slowdown marks the first time in 49 weeks, nearly one year, that median home prices have advanced at a single-digit pace,” explains Realtor.com® Chief Economist Danielle Hale in her weekly analysis.

And it’s not just home price growth dropping as 2022 comes to a close: Mortgage interest rates also dipped for the fifth week in a row.

So…

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Finally, Mortgage Rates and Home Prices Favor Buyers—but How Long Will This Last?

Realtor.com writes, "Christmas has arrived early for America’s homebuyers! And it’s not just one gift, but two that should make them giddy.

Gift No. 1: lower mortgage rates, which have been falling for the past four weeks.

“Housing data in the week that followed the Thanksgiving holiday showed that the recent dip in mortgage rates may already be having an impact,” explains Realtor.com® Chief Economist Danielle Hale in her weekly analysis.

Gift No. 2: Home price growth “slowed notably” for the week ending Dec. 3, according to Hale.

We unwrap the latest real estate statistics and what they mean for homebuyers and sellers in our weekly column “How’s the Housing Market This Week?”

Mortgage rates dipped again

Not too long ago, it had…

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"Fewer sales, moderate price growth: Here's what Austin housing market could look like in 2023"

Austin Business Journal writes, "after a wild couple of years, the Austin-area housing market could be in store for a relatively modest 2023.

Realtor.com predicted that the volume of local home sales will actually fall 6.6% next year, compared with 2022, while prices will grow 3%.

Ashley Jackson, president-elect of the Austin Board of Realtors, said there's hope that more moderate adjustments are a sign of Austin's return to a normal, seasonal market — as opposed to the dramatics seen in 2021 and part of 2022, when Austin became one of the top pandemic relocation destinations.

Median home sale price in the Austin metro peaked at a record $550,000 in April and May, but had fallen to $474,990 by October, according to ABOR data. Winter is…

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"Mortgage Rates Dip Further—So Why Are Home Prices Still So High? The ‘Sticky’ Problem, Explained"

Realtor.com writes, "with Thanksgiving behind us and much Christmas merriment ahead, one might presume that home shoppers have shelved their house hunt until the new year. But no, the housing market is as hopping as ever—and even full of surprises of late.

“Housing data in the week that includes the Thanksgiving holiday show that the housing market continues to evolve, but not always as expected,” explains Realtor.com® Chief Economist Danielle Hale in her weekly analysis.

In our column “How’s the Housing Market This Week?” we’ll break down what’s happening with the latest real estate statistics, and what it means for homebuyers and sellers.

Home price growth ticked up

In November, home prices hovered at a national median of $417,000,…

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"Home Prices Fall and Listings Soar: Could It Be a Great Time To Buy Despite High Mortgage Rates?"

Realtor.com writes, "as the housing market barrels toward the end of the year and all of its holiday trimmings, potential homebuyers are likely wondering what’s in store for the coming season.

Home shoppers looking for lower asking prices can officially check that off their wish list. November’s median home list price of $417,000 was much more wallet-friendly than June’s record high of $449,000, according to a recent report from Realtor.com®.

Yet the volatile real estate landscape is not quite ready to bring only glad tidings. High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front.

“Even though prices are down month to…

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