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What happened in Austin's Housing market in October 2017?
The October 2017 Central Texas housing Market report was released on November 14, 2017 by the Austin Board of Realtors®. Single-family home sales increased across the Austin-Round Rock Metropolitan Statistical Area (MSA) in October. It was interesting to note sales declined in the City of Austin.
I think Brandy Guthrie’s (2017 President of the Austin Board of Realtors®) statement is right on target for the real estate activity in October 2017 in Austin. “The Austin-Round Rock housing market continues to slightly outperform last year’s home sales activity, keeping 2017 on-pace for another record year for home sales. At the same time, low inventory levels along with constrained housing development activity throughout the city of Austin are preventing home sales growth at the city level.”
Some are concerned we are not outpacing growth by significant levels but we can’t continue to grow by leaps and bounds with the lack of our infra structure and city codes which inhibit building. The CodeNext proposal on the table could further inhibit growth so the City selection of a new city manager will impact the direction of our region’s future and sustainability of Austin’s housing market. Guthrie’s statement “Austin deserves a city manager who isn’t afraid to tackle ... more

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