Found 20 blog entries tagged as suburbs.

Driving the majority of the metro's growth are cities north of Austin in Williamson County — Georgetown, Round Rock, Cedar Park and others, according to new data. NICK SIMONITE

Austin Business Journal writes, "About eight out of every 10 people added to the Austin metro during a recent 12-month period settled outside of Travis County — which roughly mirrors the Austin city limits. Travis County added an estimated 7,400 new residents in the second half of 2022 and the first half of 2023, which is not far off of what Oklahoma City can expect for annual population growth these days.

It's perhaps a sobering comparison for many Austinites and especially Texas Longhorn fans, but a deeper dig into the latest U.S. Census Bureau data reveals what may be a more disturbing fact: More people are moving away from Travis County than to it. If it wasn't for babies, Travis County would be shrinking.

Travis was the only county in the…

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Nationally, 32% of homes are selling above list price. But in some areas, that percentage is much higher and still rising. SIRAANAMWONG VIA GETTY IMAGE

Austin Business Journal writes, "while high interest rates are prompting many sellers to drop prices at a record pace nationally, 13% of homes in the Austin metro are still selling above the listing price.

That's according to a new analysis of data from Redfin Corp., which found 32% of homes nationally sold above listing price in October — up 2.7 percentage points from a year ago.

As we've noted, a variety of factors suggest the housing market is shifting to give buyers more leverage in many markets. However, prices remain significantly elevated and, in many metros, are still on the rise — just not at the rapid pace of recent years.

In the Austin metro, homes sold for an average of 97% of the listing price in October.

Housing supply and…

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The Pennybacker Bridge west of downtown Austin. ARNOLD WELLS/STAFF

Austin Business Journal Reports, "the Austin-Round Rock metro area became slightly more affordable for homebuyers in 2023, but it’s still much more expensive to own within Austin's city limits than almost anywhere else in the region.

That’s according to recent data from Zillow Group Inc. analyzed by the Business Journals. In each of the metro's ZIP codes, the minimum annual income required to purchase a typical home declined anywhere from 4% to 18% in 2023, as of Nov. 30, compared to 2022, the analysis found. Annual mortgage payments also dropped, while median home values declined at a rate of 1% to 13% across the region.

The Austin Business Journal annually tracks the wealthiest ZIP codes in the metro, so it's already well-known where the…

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AXIOS Austin writes, "aiming to win older empty nesters, Austin apartment developers are now including spas and libraries.

Why it matters: More senior communities look like modern luxury apartments.

Driving the news: America is going gray. Baby boomers and their kids make up a growing share of the country's population, according to Census Bureau data.

  • In greater Austin, the share of renter households that are 55 or older has hopped from 11.1% in 2005 to 17.6% last year.

What's happening: Apartment developers are courting empty nesters as young as 55 years old, dangling prime locations, easy living and amenities you'd expect at a five-star hotel, senior living expert James Hill with Houston-based Kirksey Architecture tells Axios.

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Downtown Austin ARNOLD WELLS/ABJ

Austin Business Journal writes, "Austin’s real estate market is still burning at a supernova level, according to a new study.

The Urban Land Institute, which focuses on real estate and land use, released its widely respected 2024 Emerging Trends in Real Estate report on Oct. 31. The report compiled data and insights from over 2,000 real estate industry experts to explore shifts and trends in the property sector and predict 10 markets to watch for the coming year.

Austin ranked fifth on the list this year, down from No. 3 last year. The rest of the top five was rounded out by other Sunbelt cities: Nashville at No. 1, then Phoenix, Dallas-Fort Worth and Atlanta.

ULI conducted the study in partnership with PricewaterhouseCoopers, a professional…

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National Mortgage Professional writes, "there’s no such thing as a perfect housing market, but Austin is trying to check off all the boxes for would-be buyers. Young and savvy tech professionals are flocking to the funky metro known for its music scene to scoop up jobs and take the plunge into homeownership.

Since Austin is attracting new buyers and transforming long-term renters into prospective homeowners, LOs aren’t having trouble wrangling customers to buy loans. And it helps that 25.8% of homes in Austin have lower estimated monthly housing payments than they would have if they had been for sale a year ago, according to Redfin. Year-to-date home sales price data from the Austin Board of Realtors show a 12.6% decline in the median price for…

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The majority of counties recorded population growth between 2020 and 2022, but some counties performed much better than others. UNDREY VIA GETTY IMAGES

Austin Business Journal writes, "when it comes to population growth during the Covid-19 era, large suburbs are shining. Urban centers and rural counties? Not so much.

That’s according to new data from the U.S. Census Bureau with updated population estimates for 2022. 

Nationally, counties with populations of at least 250,000 in 2020 grew by an average of 0.84% between 2020 and 2022. For all counties, the average was 0.44%.

But a closer look at the data shows the strongest growth was generally in ring counties — suburban counties located within the nation's largest metro areas.

Among counties with at least 250,000 residents, the top counties for percentage growth were St. Johns County, Florida (located in metro Jacksonville); Hays County,…

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Realtor.com writes, "the longtime mantra of the real estate market, “location, location, location,” may never have been so true.

During the COVID-19 pandemic, a national frenzy seemed to permeate the housing market as buyers spent previously unimaginable sums on homes just about everywhere. The real estate market was fairly monolithic as the number of available homes dried up and prices shot up around the country.

However, what’s happening in the national housing market might no longer resemble what’s going on in local markets across the country. As mortgage interest rates have risen, some markets have slowed while others continue to speed up. Home prices may be falling in one city but accelerating in another. Bidding wars may be fierce in one…

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Bobby Berk has been enlisted by Tri Pointe Homes to design its model home in Heritage, a new subdivision. Construction is starting now. BOBBY BERK

Austin Business Journal shares, "almost 600 new homes will spring up in the fast-growing suburb of Dripping Springs during the next three years or so — welcomed development in a region still short on housing.

Tri Pointe Homes Inc. enlisted the aid of “Queer Eye” star Bobby Berk to design the model home for the new neighborhood the homebuilder is co-developing with Ohio-based M/I Homes Inc.

The 188-acre development — known as Heritage — will be home to 586 homes at full build-out, according to a Jan. 26 announcement. The Berk-designed model home will serve as both a marketing resource and a design inspiration tool for potential homebuyers interested in Tri Pointe’s offerings in the development, said Chelsea Timmons, vice president of community…

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"Normal market activity could be here to stay," says Austin Board of Realtors. Preservation Austin

Culturemap Austin writes, "The Austin housing market is normalizing, and for the first time since before the pandemic, metro home prices are not on the rise.

According to the Austin Board of Realtors' latest monthly report, November 2022 marked the first time since February 2019 that the median home price for the Austin-Round Rock metro area was flat. The metro's median registered at $467,955 last month, the same as November 2021, meaning 0 percent year-over-year growth.

At the same time, housing inventory nearly quadrupled from last year, to 3.1 months at the metro level, and the average time spent on the market grew to a whopping 58 days, leading to further market stabilization.

At the city level, Austin actually saw a drop in its median…

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