Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

July 2020 Austin home price update

 
Friends and Clients --
Nobody expected a real estate rebound quite like this.
As a result, we’re seeing a unique opportunity for anybody thinking of selling a home. I’ll explain what I mean in a second. First, let me give you the details:
1. A surge in demand
According to the National Association of Realtors, pending home sales spiked a stunning 44.3% in May compared with April.
That is the largest one-month jump in the history of the survey, which dates back to 2001. It blasted expectations of a 15% gain.
Of course, the reason behind this is the pandemic. Much of the housing market shut down entirely in April. Since this is normally the hottest part of the year for real estate, there is a tremendous amount of pent-up demand. But that's not all.
2. Ultra-low mortgage rates
Mortgage rates continue to hit new record lows.
The 30-year fixed mortgage rate currently stands at 3.13%, more than a half percent lower than a year ago.
Not surprisingly, this is creating even more demand, as buyers seek to take advantage of these historically low and favorable rates. There's only one thing standing in their way:
3. A lack of inventory
The inventory ... more

__________________________________________________
Are you on The Rain? Grow Your Network!