Luxe Austin Homes - mortgage rates

"Post-pandemic effects on housing market still linger across Travis County"

Community Impact writes, "This year’s appraisal valuations from the Travis Central Appraisal District show that single-family residences experienced an average 3.4% decline in market value compared to last year.

However, the median market value for a residential homestead in Travis County is still up 46%, or $163,841, since pre-pandemic levels in 2019.

The big picture

Beginning April 9, more than 488,000 Travis County property owners received their appraisal notices by mail. The notices include the market value assigned to a property as of Jan. 1, as well as the taxable value of that property based on its exemptions.

“Property owners can review their 2025 values on our website and should expect to receive their notices of appraised value over the next…

11 Views, 0 Comments

"Mortgage Interest Rates April 17, 2025: Mortgage Rates Swing Up After Bond Sell-Off"

Realtor.com writes, "Mortgage rates swung up on Thursday compared to the previous week, inching toward the dreaded 7% level, following the recent surge in 10-year-Treasury yields driven by investor concerns about escalating global trade tensions. 

The average rate on 30-year fixed home loans increased to 6.83% for the week ending April 17, up from 6.62% the previous week, according to Freddie Mac. It is the largest one-week increase in 12 months. Rates average 7.1% the same week in 2024. 

"The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the thirteenth consecutive week," says Sam Khater, Freddie Mac’s chief economist. "At this time last year, rates reached 7.1% while purchase application demand was 13% lower than…

14 Views, 0 Comments

"Share of first-time homebuyers hits record low as affordability challenges persist"

Austin Business Journal shares, "First-time buyers hit a record low share of the homebuying market last year, another sign that affordability continues to make homeownership out of reach for many.

Only 24% of homebuyers surveyed by the National Association of Realtors said they were purchasing a home for the first time — a substantial drop from the 32% who said the same the year prior. Meanwhile, baby boomers were the largest cohort of homebuyers last year, making up 42% of all homebuyers.

The survey took place in July and included buyers who purchased a primary residence between July 2023 and June 2024. Results were released earlier this week.

Rising home prices, high mortgage rates, limited supply and competition with all-cash buyers…

39 Views, 0 Comments

"The best time for Austinites to list their home"

AXIOS Austin writes, "It's prime time to list homes in Austin, according to a new Zillow report.

Why it matters: Sellers who listed their homes in early spring last year made more money on the sale than at any other time of the year.

The big picture: The "best time to sell," per Zillow researchers, depends on where you live, and the season starts early in Austin.

• Across the U.S., homes listed late last May sold for 1.6% more — typically $5,600 — than any other time of year.
• San Jose, California; Seattle; and San Diego also saw price premiums in March, while late fall was prime time to sell in Tampa Bay and Phoenix.

Zoom in: Listing Austin-area homes in the second half of March boosted the final sale price by 2.3%, or about $10,400, on…

31 Views, 0 Comments

"Homebuyers Face Less Stress as More Listings Hit the Market"

Realtor.com writes, "It’s spring home selling season, and there’s good news for buyers who may feel less pressure to commit to a home on the spot as more listing options are available.

The Realtor.com® weekly housing data showed that listing prices flattened even as new listings and active inventory growth continued. The data suggests that March home shoppers will have more options and a bit more time to evaluate those options this year versus last.

The Realtor.com forecast expects modestly higher home sales from the low 2024 bar as inventory recovery gives home shoppers more options and more market power. That mortgage rates are steady this year at a time when they surged last year will likely benefit spring shoppers and should encourage…

36 Views, 0 Comments

"Good News for Homebuyers—It’s a Friendlier Market as Sellers Get Ready for Spring"

Realtor.com shares, "The much anticipated spring selling season is a few weeks away, and signs point to a friendlier market for homebuyers.

The share of consumers saying that now is a good time to buy was the highest in over a year, but still only at 24%. Meanwhile, the share of those saying that it’s a good time to sell remains high, at 62%.

On the one hand, this aligns with the data. The Realtor.com® weekly housing inventory showed that listing prices softened as new listings and active inventory growth both rose and homes took longer to sell. These are all signs consistent with a housing market shifting into buyer-friendlier territory.

At the same time, when the market is shifting and uncertain, it can be wise to home in on seasonal…

32 Views, 0 Comments

"Austin-area housing market poised for another stable year, experts say"

Austin American-Statesman writes, "Steady as she goes.

That about sums up the 2025 outlook by real estate experts for the housing market in the Austin metro area, a five-county region stretching from Georgetown to San Marcos.

Peering into their crystal balls, several leading experts who have tracked the ups and downs of the Central Texas real estate market for years, even decades, foresee stable conditions this year. They predict the 2025 housing landscape could mirror last year's, as more normal trends continue in the wake of the COVID-19 pandemic era buying frenzy, when multiple offers, often well above asking price, were common.

Those expected trends include home prices remaining relatively flat; a steady supply of housing; predictable…

84 Views, 0 Comments

"More listings add much-needed housing inventory, but some homes are sitting on the market longer"

Austin Business Journal writes, "The first few weeks of 2025 have brought an uptick in home listings, but whether housing inventory currently on the market is priced to sell remains to be seen.

New for-sale listings rose 7.9% in the four-week period ending Feb. 2 compared to the same timeframe a year earlier, according to data from Redfin Corp. (Nasdaq: RDFN). Despite the increased inventory, pending sales were still down 8.1% year over year.

Some of the pending sales slowdown could be seasonal or related to economic uncertainty, but mortgage rates and high home prices — including among newly listed inventory — are also keeping many would-be buyers sidelined.

Inventory is beginning to accumulate, and some homes are taking longer to sell, largely…

40 Views, 0 Comments

"4 things to know about Austin’s housing market in 2025"

ATX Today writes, "Predictable, steady, opportunity. Those are the words Unlock MLS Housing Economist Dr. Clare Knapp used to describe Austin’s housing market this year at the Austin Board of Realtors Headquarters today.

If you’re looking to buy or sell a home in the Capital City in 2025, here’s what to expect. 

1. Predictable mortgage rates

Knapp said mortgage rates will likely stay in the 6% range during the first half of the year and might dip into the 5% range later in 2025.

2. Consistent home prices + sales

Active listings in Austin were up by nearly 15% in 2024, and Knapp said healthy inventory is expected to carry over into 2025. Home sales and prices will probably remain flat, but Knapp emphasized that prospects may still be…

247 Views, 0 Comments

"Elevated prices, interest rates will continue to curb housing affordability in 2025"

Austin Business Journal reports, "Homebuyers and sellers in the Austin metro likely will see little change in prices and inventory in 2025.

That's because median sales prices are likely to hover around the $450,000 mark reported in December 2024, and interest rates are expected to stay high, according to Clare Knapp, housing economist for the Austin Board of Realtors and Unlock MLS. It's a combination that's considered unaffordable for many first-time homebuyers, which means the onus is on homebuilders to build more homes with lower price tags to help move the needle on affordability in the metro.

A first-time homebuyer can typically afford to pay three times their income for a home, putting many in the market for a home in the $300,000 to $400,000…

58 Views, 0 Comments