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Winter 2017 Austin Home Price Update
Winter 2017 Austin Home Price Update
 
Friends and clients -
If you’ve been considering selling your home, then this winter represents an incredible opportunity.
First, home prices have hit record highs over the past few months.
In fact, home prices are now higher than they were in 2006, at the peak of the housing bubble.
In spite of this, the current market is not experiencing a bubble like we saw 10 years ago.
Instead, today's high prices are mostly driven by a lack of supply.
That's why — if you are looking to sell your home — you are in such a good position right now.
Second, we are seeing a period of low but rising mortgage rates.
For example, the average 30-year mortgage rate has been steadily increasing from its low of 3.37%, recorded last July. It now stands well above 4%.
It’s true that by historical standards, today's mortgage rates are still very low.
And when you combine this with the possibility of continuing increases in the near future . . .
. . . it's clear why so many home buyers are eager to take advantage of the current situation.
Third, we've made it to the end of the election cycle.
Many people were sitting on the sidelines because of the election ... more

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