Thursday, January 17th, Gene and I attended an exciting Austin Residential Market Review at the Barton Creek Country Club which Independence Title offered to invited guests (thank you Kara McGregor and her business development team). Mark Sprague, State Director of Information Capital offered an exhilarating market update. All good news for Austin!!
I like to hear Marks predictions and review because he tends to be on the conservative side and doesn’t blow smoke! But as he says: facts are facts.
So what are the facts…. why is Austin on a high:
1. Austin area resale inventory is 3.4 months
2. New and resale home inventory levels extremely tight
3. Austin home values remained positive during recession
4. Record affordability, lowest mortgage rates in 60+ years
5. 1 out of 2,006 properties in Travis County are in Foreclosure, across Texas 1 out of 1,455
6. Residential, rental and office entitlements at lowest levels in 6+ years
7. Lending requirements still tight, causing fewer opportunities
8. Rentals – 97% occupancy
9. 60,000+ people annually moving to Austin
10. 60,000 new jobs next two years, 26,400 in last 12 months (+3.3%)
We are looking for our momentum to keep us moving in a positive direction for a strong 2013!
As always, Austin real estate information is brought to you as a courtesy by Dorie Dillard of Coldwell Banker United; your NW Austin Real Estate Consultant.
Twenty-two years of successful representation for both buyers and sellers allows me to offer excellent service. My dedication and determination will be an asset in reaching your goals. I have systems in place, references and am a good listener and communicator. I would be honored to schedule time to see if we are a good match. Call me at 512-346-1799.
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