December 2018: Record-breaking sales & housing affordability

December 2018: Record-breaking sales & housing affordability

Austin Area, Real Estate News
Record-breaking sales in the Central Texas market underscore the need for greater housing affordability AUSTIN, TX– Rising property values and increased demand led to an all-time high in sales dollar volume in 2018 as shrinking affordability spread across Central Texas, according to year-end data in the latest Austin Board of REALTORS® (ABoR) report. Central Texas REALTORS® sold 30,713 homes in 2018, generating $11.9 billion in sales dollar volume, the December and Year-End 2018 Central Texas Housing Market Report found. “2018 was the highest-grossing year on record, and for the first time ever, the median price for single-family homes in the Austin-Round Rock MSA (metropolitan statistical area) stayed above $300,000 for 10 consecutive months,” Kevin P. Scanlan, the 2019 Austin Board of REALTORS®president, said. “While much of the region is benefitting from these higher numbers,…
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Record-Breaking Sales Continue

Record-Breaking Sales Continue

Austin Area, Real Estate News
Austin-area housing market on track for record-breaking sales AUSTIN, TX–As single-family home sales continue to rise, another record-breaking year is expected for the Austin-area housing market, according to the latest monthly report from the Austin Board of REALTORS®. The November 2018 Central Texas Housing Market Report released today suggests another strong showing for the region. "Sales are up 3.3 percent year-to-date for 2018,” Steve Crorey, president of the Austin Board of REALTORS®, said. “Pending sales volume in December, the Central Texas housing market is on track to have one of the highest-grossing years on record." Austin-Round Rock MSA In the Austin-Round Rock Metropolitan Statistical Area (MSA), sales volume slightly increased 0.7 percent year over year from 2,185 sales in November 2017 to 2,201 sales last month. Sales dollar volume increased 5.6 percent year…
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Getting Ready to Move? This Checklist Should Help!

Buying, Home Care Tips, Real Estate News, Selling
Moving Checklist The best way to organize your move is to set your move-in date then use this guide to keep you on track from two months right up until you move. If you wait until the last minute, you might find yourself stuck renting a U-Haul and begging friends to tote your boxes for pizza and beer. There’s a better way. First, determine your move date, then get busy with this checklist. 60 days before move date: Sort, purge and donate – Make sure you only move things you want, need, and use. Start by tossing out anything damaged, donate what can be, give away items, and purge the unusable. Find a mover – The process is more intense for a long-distance move, and it pays to start early.…
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Can Landlords Limit Certain Dog Breeds Because of Insurance?

Real Estate News
Q. I manage a property with a no-pets policy and am in the process of leasing it. The landlord decided to lease to a hearing-impaired tenant who is requesting her dog, a pit bull, be allowed as her assistance animal. The owner of the property has a homeowners insurance policy that prohibits "vicious" breeds, including pit bulls. What can the landlord do? A. Generally speaking, the landlord must grant a reasonable accommodation, unless an exception applies. An accommodation is unreasonable if it imposes an undue financial or administrative burden on a housing provider’s operations. According to a 2006 memo from the U.S. Department of Housing and Urban Development, if a housing provider’s insurance carrier would cancel the insurance policy, substantially increase the costs of the insurance policy, or adversely change…
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October 2018 “If Priced Correctly, It’s Going to Sell”

October 2018 “If Priced Correctly, It’s Going to Sell”

Austin Area, Real Estate News
Home Sales Start Strong in Fourth Quarter Early demand for single-family homes in the fourth quarter led to a record-breaking month of home sales for Central Texas, according to the October 2018 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. Single-family home sales in the Austin-Round Rock MSA were the highest on record for any October, generating more than $900 million in sales dollar volume—another record for October. “Over the past several years, Austin's housing stock and home sales have become opposing forces that are widening our housing gap,” Steve Crorey, president of the Austin Board of REALTORS®, said. “We saw slight inventory increases across the market, particularly in the suburbs, but they’re not enough to offset ongoing demand.” Crorey added, “With the strong passage of the…
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September 2018 Home Sales show signs of a slower market

September 2018 Home Sales show signs of a slower market

Austin Area, Real Estate News
Home Sales Growth Stalls in September, Remains Strong Year-to-Date AUSTIN, TX – Single-family home sales growth across the Austin-Round Rock Metropolitan Statistical Area (MSA) was flat last month but did not impact strong year-to-date home sales numbers, according to data released today by the Austin Board of REALTORS® in its September 2018 Central Texas Housing Market Report. “Austin-area housing market activity has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of the year,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “Home sales growth declined five percent last September, so it’s good to see that the area housing market held steady in September 2018. Austin continues to be one of the fastest-growing markets…
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End of Summer Reports Record-Breaking Sales – August 2018

End of Summer Reports Record-Breaking Sales – August 2018

Austin Area, Real Estate News
Central Texas housing market ends summer selling season with record-breaking sales AUSTIN, TX– Continued demand for single-family homes in the Austin-Round Rock Metropolitan Statistical Area (MSA) led to the highest-grossing August on record for Central Texas home sales volume, according to the August 2018 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. Strong sales led to double-digit gains in sales dollar volume for homes sold in the five-county MSA, which totaled more than $1.2 billion in August. “Last month’s housing market activity shows little evidence that the market is slowing as we move into the fall,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “More homes are entering the market and pending sales growth remains strong year over year.” Crorey added, “At the same…
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Single-family home sales experience double-digit growth in July 2018

Single-family home sales experience double-digit growth in July 2018

Austin Area, Real Estate News
Austin Board of REALTORS® releases July 2018 Central Texas Housing Market Report Strong homebuying activity throughout the summer led to double-digit home sales growth in July, according to the July 2018 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. The five-county Metropolitan Statistical Area (MSA) experienced the highest volume of home sales since July 2011, and the highest median home price on record for any month. “Strong pending sales activity in June contributed to a big uptick in home sales growth last month, and pending sales growth was strong again in July, too,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “This means we could see another uptick in home sales growth in August to end the summer selling season on a high…
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Home Sales dip in June after Increase in the first half of 2018

Home Sales dip in June after Increase in the first half of 2018

Austin Area, Real Estate News
Austin Board of REALTORS® releases June & Midyear 2018 Central Texas Housing Market Report AUSTIN, TX– Single-family home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) experienced strong and steady growth in the first half of this year but declined in June 2018, according to the June & Midyear 2018 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. In the first half of the year, area home prices continued to increase and housing inventory levels slowly declined amidst strong housing demand. “Despite a decline in home sales volume across Central Texas in June, 2018 is on track to be another record-setting year for the region’s housing market,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “Consecutive years of record-breaking sales activity have…
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Single-family home prices rise, inventory declines in May

Single-family home prices rise, inventory declines in May

Austin Area, Real Estate News
34-year-old Land Development Code continues to hold back housing market AUSTIN, Texas – Decreasing housing inventory paired with strong demand continues to drive Austin’s growing affordability crunch, according to the May 2018 Central Texas Housing Market Report from the Austin Board of REALTORS® (ABoR). In the city of Austin, the availability of housing compared with demand — as measured through inventory — continues to be historically low while median home prices have reached historic heights. The median price for single-family homes in the city of Austin increased 3.7 percent year-over-year to $389,000 in May, an all-time high for the city. While home sales rose 5.9 percent to 1,037 sales, housing inventory decreased from 2.1 months last year to 2.0 months during the same time frame. There were fewer active listings as well,…
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