Found 95 blog entries tagged as inventory.

"The Austin Board of Realtors says buyers are willing to enter the market, despite higher interest rates. However, Zillow says the demand for houses is cooling off."

KVUE reports, "home prices are dropping in Central Texas, and the housing market overall is cooling off. That's according to new reports from both the Austin Board of Realtors (ABoR) and Zillow.

According to ABoR's October report, the median home price in the Austin-Round Rock area is $435,000. That's a 7.5% drop from a year ago.

The report also shows residential home sales are up about 4%, which experts say shows buyers are still willing to enter the housing market, despite higher interest rates.

In October, homes spent an average of 68 days on the market,…

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(Illustration by The Real Deal with Getty)

TheRealDeal reports, "an influx of international home buyers is providing a boost to Central Texas’ housing market. 

Over a 12-month stretch that ended in March, foreign homebuyers spent $609 million in Central Texas, accounting for 3 percent of sales dollar volume in the Austin region, the Austin American-Statesman reported, citing a study by the Austin Board of Realtors. 

“The Central Texas region continues to be a magnet for international homebuyers and investors,” Ashley Jackson, president of the Austin Board of Realtors, told the outlet. “One in six new Austin-area residents come from abroad.”

India was the primary source of international homebuyers for the second consecutive year, accounting for 21 percent of transactions among foreign…

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Austin, Dallas and Houston (Getty)

TheRealDeal writes, "real estate in the Texas Triangle is magnetic, according to the Urban Land Institute.

Austin has the fifth-best real estate market in the nation going into 2024, the Austin Business Journal reported, citing the ULI’s Emerging Trends in Real Estate study, which compiled data and insights from over 2,000 industry experts to analyze shifts in the market and make predictions for the coming year. 

Austin’s ranking, down from No. 3 last year, reflects the city’s status as a “magnet city,” attracting both people and companies. Over recent years, Austin has seen significant investments from major corporations, such as Tesla and Samsung, which have drawn substantial business to the area. 

The city’s industrial sector is thriving,…

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In August, 31% of the nation's homes available for sale were new construction. That's more than twice the historical average, which falls in the 12% to 14% range, according to the National Association of Home Builders, underscoring how little inventory is on the market. BYRON E. SMALL

Austin Business Journal writes, "homebuilders continue to see sales momentum — despite surging mortgage rates and persistent affordability challenges — in part because they're pulling out the stops to lure buyers and ensure deals cross the finish line.

While a growing share of buyers have been locked out of the housing market because of rising mortgage rates, persistent home-price appreciation and a lack of existing-home inventory, the current environment also is creating some tailwinds for builders that can offer more competitive financing.

Housing starts increased 7% in September to a seasonally adjusted annual rate of 1.36 million units, according to the Department of Housing and Urban Development and U.S. Census Bureau data.

In fact, 31%…

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While home inventory was up across the Austin MSA in September, Bastrop had five months worth of inventory, the highest in the metro. (Courtesy Austin Board of Realtors)

Community Impact Austin shares, "housing inventory in the Austin-Round Rock Metropolitan Statistical Area hit the highest levels in more than eight years in September, according to the Austin Board of Realtors’ metro data for September.

The overview

According to ABoR officials in a news release, in September, Travis County and Hays County both had more than four month’s worth of inventory while Williamson County had slightly more than three months worth. Bastrop County had the highest inventory in the MSA with five months worth.

In addition to high inventory, data shows that year-over-year home sales and median home prices dropped across the MSA—by 18.2% and 4.3%, respectively—while active listings increased by 7.8%. Homes also spent an average of 65…

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Aerial view of the Indian Ridge neighborhood of Round Rock. ARNOLD WELLS / ABJ

Austin Business Journal reports, "the Austin metro’s housing inventory is the highest it’s been in more than eight years.

Inventory in the region hit the four-month mark in September, according to the Austin Board of Realtor’s monthly market data. Inventory represents how long it would take to sell all of the homes on the market if new listings stopped, and housing experts say six months of inventory typically represents a healthy balance between supply and demand.

While that may sound promising for a region that's experienced a dearth of new homes, it takes some pain to have the gain. The number of closed sales is notably down. ABOR housing economist Clare Losey said this could be caused by a number of factors, including high interest rates and…

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Growth continues to define the I-35 corridor through Central Texas. Get an interactive map in the article. RAMZI ABOU GHALIOUM | SABJ

Austin Business Journal reports, "the San Antonio and Austin metros have more more than 55,000 apartment units under construction, highlighting the immense fortune developers are poring into the emerging metroplex.

Just looking at the I-35 corridor between the two big cities, 23,000-plus units are proposed, under construction or have come online in the past 12 months, according to data from MRI ApartmentData, a multifamily analytics firm tracking Sun Belt markets.

That shows multifamily developers and investors are eager to keep pouring money into dense housing in the region. To be sure, there are thousands of single-family homes in the pipeline as well, although many experts have said denser, more affordable housing is desperately needed to…

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Getty writes, "though winter may still be months away, housing market activity—already cooling due to eye-popping home prices and interest rates—may be on the verge of a deep freeze.

The national average 30-year mortgage rate rose to a 23-year high of 7.49% in the first week of October, according to Freddie Mac.

Given current rate conditions, it’s no wonder that year-over-year existing home sales sagged for the third consecutive month, slipping by 0.7%, with all four major U.S. regions posting declines, according to the National Association of Realtors (NAR).

Nonetheless, the housing market remains competitive for prospective buyers. With many homeowners “locked in” at low interest rates and unwilling to sell, demand continues to exceed…

53 Views, 0 Comments writes, "is the housing market overvalued?

It’s an increasingly fraught question, and the answer might depend on who’s being asked.

Some real estate experts believe home prices are well above what they should be and expect them to begin coming down. Others think the high prices make sense given how many people are still in the market looking for properties, despite mortgage rates nearing 8%.

“If you look at how much income homebuyers are putting toward their housing payment, if the number is not the highest ever, it’s really darn close,” says® Chief Economist Danielle Hale.

No one wants to buy a home at the peak of the market—and then watch the home value trickle down.

Homes in 98 of the 100 largest housing…

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The reasons why millions of homes are sitting vacant in cities across the country are varied and nuanced. IAN NOLAN

Austin Business Journal writes, "there are millions of homes sitting empty across America at a time when inventory and affordability are squeezing the nation's housing market.

According to a recent analysis of U.S. Census Bureau 2022 American Community Survey data by LendingTree Inc., there are nearly 5.5 million vacant housing units in the nation's 50 largest metro areas. That puts the housing vacancy rate across those metros at about 8%.

But the reasons why millions of homes are sitting vacant at a time when the nation's housing market is starved of inventory and home prices remain high — the median price of new houses sold in August was $430,300, down slightly from $436,600 a month prior — are varied and nuanced.

The study found, on…

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