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Austin Residential Appreciation has Slowed NOT Declined
The three sources I consult and depend on to stay in the know on Austin TX real estate market are Mark Sprague, Neal Spelce and the Austin Board of Realtors®. It’s amazing they are all in agreement in their latest reports; “Austin Residential Appreciation has slowed NOT declined!”
Mark Sprague a long time observer of the real estate market in Austin in his latest post November 30, 2017 stated “Austin real estate has been traveling at light speed with over 60% appreciation on residential real estate in the last 10 years. Recently we have seen sales slow, not much, but a little. Residential appreciation has slowed not declined.”
As Mark states “The important takeaway is that Texas metros real estate values continue to appreciate.” I love his statement (which he personally told me to use): “Sellers need to travel farther to meet buyer’s expectations.” He points out in some price points inventory is up, particularly luxury above $2 million. Luxury is in a “buyers market”.
Buyers will not over pay, they are looking at multiple properties and will choose the one that best fits their needs and budget.
In Neal Spelce’s December 15, 2017 letter he agrees and quotes many of what Mark ... more

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