Luxe Austin Homes - market watch

Report: Average apartment rents in the Austin area have hit an all-time high

Posted by Grossman & Jones Group on August 22nd, 2022

Average apartment rents for the Austin area have hit an all-time high, an expert told KVUE's media partners at the Austin American-Statesman.

Charles Heimsath has been tracking conditions in the area's real estate market since the early 1990s. He told the Statesman that between December and June, average rents jumped by their largest percentage ever in the time he's been tracking the market.

Heimsath said apartment rents in the area – which spans from Georgetown to San Marcos – increased, on average, 11.6% from December to June. He told the Statesman that he expected to see a slow down during the first half of the year, but that didn't happen.

"Rents continue to rise with no relief in sight," Heimsath said.

The…

231 Views, 0 Comments

The Fed raises rates by 0.75%: Its inflation battle continues

Posted by Grossman & Jones Group on June 16th, 2022

The Fed raises rates by 0.75% and improves its inflation-fighting credibility

As expected, the Federal Reserve today raised rates by 0.75%, its largest increase in 28 years, bringing the federal funds rate to around 1.50%. Of note, Fed Chair Jerome Powell highlighted in his comments that the FOMC's primary focus currently is on bringing down inflation in a "clear and convincing" manner over the next few months.

The markets welcomed this rate hike as a signal of credibility in the Fed's inflation-fighting mandate and a step in the right direction toward bringing interest rates back to more neutral territory. The S&P 500 headed higher by over 1.0% on the back of this move, while the tech-heavy Nasdaq was higher by over 2.0%. Chair Powell did note…

238 Views, 0 Comments