Found 357 blog entries tagged as housing.

A major real estate investor in Austin has acquired a sizable apartment complex in the fast-growing suburb from a prominent developer based in the city.

Palladius Capital Management acquired the 342-unit, located in Kyle from Endeavor Real Estate Group, which completed the project earlier this year.

The sale price was not disclosed.

Kyle and other areas south of Austin have proven to be a popular market for multifamily construction and projects as of late

The complex Palladius got is called Citizen House Kyle, and located along the I-35 Innovation Corridor, part of the larger Dry River District, which includes a 65-acre mixed-use community also being developed by Endeavor Real Estate Group. The deal for the apartment complex includes one-…

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With the fate of a $350 million affordable housing bond now in the hands of Austin's voters, the referendum carries the potential to inject a substantial sum of money into the hands of developers and contractors — while also addressing a mounting housing crisis.

But the idea has its opponents.

The $350 million bond, the largest of its type proposed in city history, if approved would increase property taxes by more than $45 a year for a "typical" Austin home, valued at $448,000 with a taxable value of $358,400, assuming there's a homestead exemption.

Such a gain could cause pain during this time of drastically rising prices. Yet proponents argue that is why now is the time to invest in much-needed housing for essential workers.

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Austin-based Casata Corp., a developer of small home rental communities, is turning its gaze on San Antonio as it expands across the rest of Texas.

The company, founded in 2020 by developer Aaron Levy, is scouting five locations around San Antonio for a 200-unit community of built-to-rent homes with floor plans ranging between 400 and 800 square feet.

"We like cities where jobs are being created," Chief Operating Officer Zain Mahmood told San Antonio Business Journal.

The company also looks at the entertainment and shopping options nearby.

Mahmood, who was introduced to Levy through mutual friends and brought on as co-founder, said that when the group set up its pilot project, Casata Austin, the community was 82% leased before construction…

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Sixty-eight acres in Northeast Austin have been zoned for single-family, small lot construction by the city’s Zoning and Platting Commission.

Plans indicate there are 211 plots at 4806 Blue Goose Road, just east of Cameron Road. Commissioners approved the zoning as part of the consent agenda at their Sept. 6 meeting, following a recommendation by city staffers.

The final number of homes could change.

The project is spearheaded by RR Braker Valley LP and Jeremy Smitheal, a partner at Austin-based real estate investment firm Riverside Resources. The company is behind several major commercial projects across the city, including plans to transform part of West Sixth Street.

A representative for Riverside Resources confirmed the firm is behind…

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Adjustable-rate mortgages are more popular this summer than they've been since right before the Great Recession.

The share of mortgage applications for ARMs rose to 12.6% in June before they dipped to 12.2% in July, according to an analysis by Seattle-based Zillow Group Inc. (Nasdaq: ZG). It's the first time since August 2007 the share of ARMs among mortgage applications has been more than 12%.

While that could trigger some alarm bells, the conditions today — including lending standards — are very different than the years leading up to the housing crash of the late 2000s, said Jeff Tucker, senior economist at Zillow.

"It's something to keep an eye on but, at the moment, it doesn’t look concerning to us," Tucker said. In the years leading up…

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Today’s housing market is one of the strangest that many real estate experts have ever seen. After years of bone-dry inventory and sky-high demand that led to soaring prices, bidding wars, and a breakneck sales pace, the market is correcting—and rapidly at that.

In fact, the number of U.S. homes for sale is rising at the fastest pace in five years, up more than 200% since its lowest point this February, according to a Realtor.com® analysis. That’s great news for frazzled buyers who’ve been struggling over the past few years to find anything—anything—to buy. However, housing supply is still well below normal. The number of listings would need to nearly double to get inventory back to what had become normal before the COVID-19 pandemic—and even that…

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By year’s end, Austin is projected to rank No. 4 among major metros nationwide for new apartments brought online, a welcome sign of relief in a region starving for both rental and for-sale housing.

That’s according to an Aug. 23 RentCafe study which found that Austin is projected to deliver 18,288 apartments in 2022.

That would be a five-year high and continue a trend of increased apartment construction since 9,107 units were delivered in 2019.

Already this year, the Austin metro ranks No. 2 in the nation with 4,236 apartments delivered, according to RentCafe. Houston ranks No. 1 with 4,746 apartments delivered and Seattle ranks No. 3, with 3,232.

Multifamily builders are rushing to meet a huge level of demand. A July study by Hoyt…

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Cedar Park is seeing the lowest median home price this year for July as prices in the city continue to drop, while Leander is experiencing the opposite, according to Austin Board of Realtors data.

In July, Leander’s median home price reached $567,455, which is the highest price the city has seen this year. Cedar Park, however, saw the lowest home price in July at $512,500.

Despite Leander seeing a slight upward trend in home prices as the year progresses, ABoR President Cord Shiflet said the housing market is continuing to normalize.

“In every aspect of our market, Realtors are seeing positive signs that Austin’s housing market continues to normalize,” he said. “On top of rising housing inventory, home price growth is much closer to the 4%-5% annual…

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Investor activity began to plateau in the second quarter but even with higher interest rates and a slowing housing market, it's likely some groups will continue to find opportunity.

Real estate investors bought 87,500 U.S. homes in the second quarter, up 11% on a quarterly basis and 5.9% higher year over year, according to Seattle-based Redfin Corp. (Nasdaq: RDFN). Investors bought an all-time high of 93,700 homes in Q3 2021 but, as Redfin notes, investors continue to buy more homes than they did pre-pandemic.

Investors purchased a record $60.1 billion worth of real estate in Q2, and their market share was 19.4% of all homes purchased last quarter (down from 20.5% in Q1).

Defined by Redfin and most industry groups as an institution or…

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Homebuyers continue to gain negotiating power in the Austin area, a welcome change of pace in a market that has been defined for much of the past two years by blistering conditions.

The latest numbers from the Austin Board of Realtors convey good — or at least better — news for this home-starved market and people struggling to find a home. They also signal a comforting trend that would help Austin avoid a housing crash after years of phenomenal appreciation.

Housing inventory increased in July for the second straight month, to 2.7 months for the region and 2.4 months for Austin city limits, according to ABOR. Instead of a summer outlier, this now seems to point to a trend of decreasing demand, especially in light of rising mortgage rates,…

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