Luxe Austin Homes - inventory

"Building Boom Forecast for 2025: Number of Affordable New Homes Set To Soar, but Expect Them To Be Smaller"

Realtor.com writes, "Builders are working to fix America’s critical housing shortage—and while the number of new homes is expected to top 1.1 million in 2025, expect them to be built slightly smaller.

But, homebuyers can expect them to be more affordable, too, according to the Realtor.com® 2025 Housing Forecast. This is especially good news for first-time homebuyers, who might find new homes easier to access in areas that are growing.

New construction will help ease the housing shortage

In 2025, new-home sales and single-family housing starts are expected to improve compared with other types of homes. Builders plan to construct about 1.1 million homes, which is a 13.8% increase from 2024.

Builders are working to make homes more affordable,…

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"2025 could bring some relief to one major housing challenge. Here's what to expect in the new year."

Austin Business journal shares, "More rate volatility, more affordability challenges — but slightly more inventory.

Those are some of the predictions among housing economics for the 2025 for-sale housing market. Beset by continued home-price appreciation, scarce inventory and a mortgage lock-in effect — not to mention sweeping industrywide changes — buying and owning a home continues to be out of reach for many.

Here's what to expect in the U.S. housing market next year.

Inventory and home sales

The biggest potential for relief in 2025 could come from an uptick in inventory.

While many existing homeowners are carrying a mortgage rate of 4% or less, life events and a broader acceptance that rates likely won't drop down to those levels…

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"Here's a look at changes Austin made to development regulations in 2024"

Austin Business Journal shares, "It has been a year of change in Austin for regulations around homebuilding, with many new policies enacted that are meant to boost the supply of residences. 

They include new density bonus programs that enable developers to build taller buildings if they include affordable units, as well as modifications to rules governing lot sizes and how many homes can be built on them.

Here is a look at some of the changes enacted in Austin in 2024, in addition to proposals that the City Council may consider soon.

HOME Initiative 

One of the most debated undertakings was the implementation of the HOME Initiative, which altered the rules regarding how many homes can be built on single-family lots and also reduced the…

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"Prices still at record levels even as existing-home sales tick up"

Key takeaways

• Existing-home sales in October 2024 rose 3.4 percent from the previous month and 2.9 percent from a year ago, according to the National Association of Realtors — the metric’s first annual gain since 2021.
• The nationwide median sale price was $407,200, up 4 percent from last year and the highest October median on record.
• Inventory in October was at a 4.2-month supply — still tight, but a sign that buyers are gaining more bargaining power.

Bankrate.com writes, "The housing market suffered from sluggish sales again in October 2024, but sales volumes finally are looking up. And home prices remain near record highs, a new report by the National Association of Realtors (NAR) shows.

The median home-sale price marked the highest…

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"Homebuyers can afford to be picky as Austin housing inventory rises"

CultureMap Austin shares, "The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed housing inventory is still on a steady rise in the Austin-Round Rock-San Marcos MSA, creating more choices for potential homebuyers as they navigate a high interest rate market.

Residential home sales dipped by a mere 1.5 percent year-over-year from October 2023, amounting to 2,248 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have also dropped to $430,000, or 3.2 percent less than this time last year. More than 3,300 new home listings were added on the market — a 7.4 percent increase from 2023 — bringing the total number of active home listings to 11,599.

According to Unlock MLS and ABoR housing…

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"Housing inventory, listings increase in Austin metro as mortgage rates remain elevated"

Austin Business Journal reports, "Mortgage rates remain elevated compared to recent years, but Austin-area homebuyers have a robust inventory of choices, according to the latest market data from the Austin Board of Realtors and Unlock MLS.

The median sale price for homes fell slightly in October to $430,000, a 3.2% drop from the same time last year. And with a housing inventory that eclipsed the five-month mark, buyers had plenty of options.

Meanwhile, overall transaction volume remained flat year-over-year, as both active and new listings increased compared to October 2023.

But elevated mortgage rates — the average 30-year fixed-rate mortgage was 6.79% for the week of Nov. 7 — continue to be the biggest factor affecting home sales, said…

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"Housing Market Predictions For 2025: When Will Home Prices Drop?"

Forbes Advisor writes, "Home prices remain at record highs and mortgage rates are climbing again. Is there any relief in sight for buyers? Potentially. Although home prices continue to break records, they’re rising at a slower pace due to loosening inventory and sluggish demand—and experts project further price growth deceleration in 2025.

Meanwhile, even as many are still waiting for lower mortgage rates before taking the home-buying plunge, pending sales data indicates that at least some prospective buyers are starting to dip their toe into the market.

In fact, experts say now might be the ideal time for buyers to get ahead of a potential demand surge in 2025—one that could drive home prices up again and leave some would-be homeowners out in…

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"Landsea Homes opts for larger digs in Austin as its local pipeline grows"

Austin Business Journal reports, "As Austin’s housing inventory continues to grow, a Dallas-based homebuilder with a national footprint is increasing its presence in the Texas capital.

Landsea Homes Corp. (Nasdaq: LSEA) signed an 8,000-square-foot lease for an office at North Austin’s Stonebridge Plaza, according to an announcement. The company will leave its current office at 4001 W. Parmer Lane, which is roughly 4,500 square feet, when the new office opens in early 2025.

“Landsea Homes has been expanding rapidly in the Austin area over the last year and we have quickly outgrown our current office space,” said Jill Wasik, Landsea’s director of sales and marketing for its Austin division, in a statement. “Stonebridge Plaza is centrally located,…

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"Housing market hits highest inventory since 2019 as sellers flood the market"

The New York Post writes, "The housing market is finally giving buyers some breathing room.

After two years of skyrocketing prices and shrinking inventory, the number of homes on the market just hit its highest level since 2019, sparking hope for frustrated buyers across the country.

In October alone, available homes surged 29.2% from last year, marking a full year of growth in listings, according to an analysis by Realtor.com.

Homeowners nationwide are throwing up “For Sale” signs in droves, especially in former pandemic hot spots like Austin, Memphis and Orlando.

These “boomtowns” are making a comeback in a big way, with Austin inventory jumping a staggering 40.1%, while Memphis and Orlando posted gains of 39.2% and 26.6% respectively.

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"Texas new home sales slowed in September, prices dropped in Austin"

CultureMap Austin writes, "new analysis of the statewide real estate market has revealed new home sales in Texas have slowed since September, despite a drop in average prices, and inventory is on the rise.

The September edition of the New Home Sales Report by Dallas-based platform HomesUSA.com examined MLS data across Dallas-Fort Worth, Houston, Austin, and San Antonio to determine the status of the overall real estate market.

The report found that the three-month average number of new home sales fell across all four major metros in September. Austin saw the smallest decline in home sales, down by just seven sales to 864 in September.

Out of all four markets, San Antonio saw the most dramatic decline in sales with 1,067 new homes sold in…

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