Luxe Austin Homes - renters

"In September, the Austin area saw the highest number of active home listings since 2011"

KVUE AUSTIN, Texas — "Prospective homebuyers can start breathing a little easier, according to new data from the Austin Board of Realtors (ABoR).

ABoR reports that, in September, home sales declined 18.5% to 2,992 closed listings as active listings were up 162.4% to 9,671 listings. That's the highest number of active listings in the area since July 2011, according to ABoR.

"Homebuyers have not had this much leverage and this many options in over a decade," said Cord Shiflet, 2022 ABoR president. "We’re still in a seller’s market, but as homes take longer to sell and are being bought for less than the original list price on average, and with inventory steadily increasing, right now is a great time to be a homebuyer in Central…

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"This Fall’s Latest Housing Stats Are Hiding a Surprising Upside for Homebuyers"

Realtor.com writes that, "Although the fall season is traditionally the best time of year to buy a house, homebuyers out there right now might not feel that way—and for good reason.

We looked at the latest real estate statistics in our column “How’s the Housing Market This Week?” We found that this year’s seasonal high point for buyers is up against some strong headwinds—including skyrocketing interest rates, soaring inflation, and overall economic volatility not seen since the Great Recession in 2008.

“Early fall is usually the best time to buy,” says Realtor.com® economist Jiayi Xu in her analysis, adding that the most optimal window of opportunity for homebuyers nationwide just passed last week.

However, she continues, “as inflation…

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"No longer ‘frantic’: Number of homes for sale in Austin metro highest in more than a decade"

AUSTIN (KXAN) — "The number of homes for sale in the Austin metro area is the highest in more than a decade.

A total of 9,671 homes were actively listed in September across the five-county area — the highest number since July 2011, according to the September housing report from the Austin Board of Realtors.

The number of active listings is up more than 160% over last September.

Meanwhile, home sales declined in September. Just less than 3,000 homes were sold last month, down 18.5% year-over-year.

“Homebuyers no longer need to move at a frantic pace to find a home,” said ABoR President Cord Shiflet. “There are more homes to choose from and more time to find a home that works for their needs and budget.”

The median home price across the…

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"Why Are Homeowners Seeing Prices Drop?"

U.S. News reports that, "for just about any homeowner, talk of falling home prices can spark panic. With homeownership being the major financial and personal investment it is, there's a natural anxiety that comes with any potential threat to that investment.

However, housing market activity to date does not show a year-over-year decline of home prices – at least not yet. While some data sets show small month-to-month home price declines, month-to-month data is more volatile and does not signal a drastic shift in the market on its own.

There is a marked deceleration in home price growth due to a combination of already high home prices, high mortgage interest rates, low housing inventory and economic uncertainty on a larger scale.…

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"Is the Rental Market Beginning To Normalize? Priced-Out Tenants Sure Hope So"

Realtor.com writes, "renters haven’t had much good news lately as landlords have jacked up monthly rents to previously unthinkable amounts across the country.

However, the rental market may be returning to something more seemingly normal. In September, the median monthly rent in the 50 largest U.S. metropolitan areas dropped for a second straight month, to $1,759, according to a recent report from Realtor.com®. That’s $12 lower than last month and a $22 drop from the peak in July.

Rents were still up 7.8% from September of last year. However, it’s the lowest year-over-year price increase since May 2021.

The report looked at apartments, condos, townhomes, and single-family homes advertised for rent in September on Realtor.com in the 50 largest…

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"Study makes case for investing in cheaper housing as Austin group buys more apartments for moderate-income rentals"

Austin Business Journal writes, "a new report challenges the idea that investing in more affordable housing developments yields lower returns than luxury apartments — bringing added weight to a local fund that aims to maintain cheaper housing.

The report from Southern Methodist University and the University of Texas at Austin finds that moderate-income rental housing is a viable and profitable investment for those seeking to support a fund that embraces environmental, social and governance principles, or ESG.

Supported by Affordable Central Texas Inc., which controls a low-cost housing fund in Austin that has raised tens of millions of dollars, and the Wells Fargo Foundation, the study aimed to define a profitable asset class called…

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"How High Can Mortgage Rates Possibly Go?"

Realtor.com writes, "higher mortgage interest rates have taken a battering ram to the housing market.

Since the start of the year, mortgage rates have more than doubled. They’ve blown past all expectations, nationally exceeding 7% by some estimates. The possibility that rates could continue to rise has struck fear into the hearts—and bank accounts—of many stressed-out homebuyers.

The simple, and dispiriting, math: Every time they tick up, fewer buyers can qualify for loans—and those that do often can afford to buy only much cheaper homes.

So how high could rates go? The answer depends largely on how the economy fares. If inflation persists, the U.S. Federal Reserve will keep raising its own interest rates and mortgage rates will likely follow…

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"Buyer Bargains: Here Are the 10 U.S. Cities Where Home Prices Are Dropping the Most Right Now"

According to realtor.com, "The inconceivable is happening. After two-plus years of unimaginable and seemingly inexorable growth, home prices are falling from their heady peaks over the summer.

The reason: Higher mortgage interest rates have thinned out the ranks of buyers who can still qualify for a home loan and sharply reduced the price of the homes the remaining few in the market can afford. Gone are most of the frenzied bidding wars and six-figure offers over the asking prices. Homes are now sitting on the market longer, inventory is piling up, and sellers—at least in some markets—are cutting prices.

Ironically enough, they tend to be the areas that fully dominated the real estate market during the COVID-19 pandemic, with big influxes of new…

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"New ultra-luxury neighborhood claws its way into affluent Austin suburb"

According to Culturemap Austin,  "A neighborhood of six multimillion-dollar, high-end homes has emerged in the wealthy Austin suburb of West Lake Hills.

The new 12-acre development, called the Wildcat Club, features six homes on 1- to 4-acre lots with prices starting at $11.75 million. One of the homes (a 9,500-square-foot residence with interiors designed by Fern Santini) already has been sold, and two of the homes are now on the market.

Most of the homes can be customized based on a buyer’s preferences. Amenities include a lounge and wine room, media room, home office, pool, spa, gym, gourmet kitchen, outdoor kitchen, and butler’s pantry. Floor plans range from 5,750 square feet to 9,500 square feet.

Austin-based Foursquare Builders is…

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"It’s the perfect starter home. But it’s only for rent."

"Adam and Tahnya Gaston arrived in this Austin suburb in June with a toddler, a dog and enough money for a down payment. But within days they scrapped their plans for buying a house, deterred by soaring home prices and rising mortgage rates. Instead, they’re paying $4,000 a month to lease a three-story house in a new development aimed squarely at renters.

As the housing market sours, families around the country are eschewing homeownership and turning instead to new homes in rental-only developments such as the one where the Gastons landed. When completed, the Oaks on Chisholm Trail will have 113 stand-alone homes, each with a kitchen island, two-car garage and tiny plot of lawn — all exclusively for rent.

It’s one of…

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