Lots of people ask me, “What is the Austin real estate market doing?” “Where is the market headed?” “Should I buy now or wait?” “I just read that the Wall Street Journal reported that home prices dropped again, why would I want to buy now?”
You get the consistent message. No one wants to catch a falling knife! Let it hit the floor and pick it up! But then no one wants to get left out as the market moves up. Same with real estate!
There are many personal reasons for people to buy a home or condo now:
- Relocation to Austin and need a home for the family
- Family has outgrown the apartment or lease
- Just plain tired of living in an apartment
- Tired of paying someone else’s mortgage on the lease
- Kids are gone and want to downsize
- Would like a more urban lifestyle
- _____________ (fill in the blank)
But the headlines are nagging and unsettling! If they don’t make you pause and think about it, they should. (See the links at the bottom of this page for specific Austin information.)
Real estate is like the weather… it’s local. It may be 10 below in New York but it’s 70 in Austin, so you dress for and enjoy Austin weather. Within the Austin market, there are area and neighborhood markets. Some parts of the Austin market are flat, others are rising, and some are an absolute competitve seller’s market.
Overall, the Austin market is healthy and the envy of most cities. The reasons for Austin’s market health are:
- Job growth
- Overall population growth (people just like to live here)
- Austin didn’t have the big boom last decade (think CA, FL, NV)
Here are a couple of links on Austin and Austin is doing well. If the personal reasons for you are right to buy a home or condo, the Austin market is well situated for the future! I have the knowledge about the local market and can help to make sure that you find the right home. I’d be very happy to share with you more information about the market and what is or isn’t happening in your area. Just call or email me.
Austin Rocks! (Austin specific video)
TexAPlex (Overall why Texas is going gangbusters)
Demographics (If you like charts, this is it! Large PDF with lots of charts)
2012 Housing Forecast (Austin & Texas forecast from Dr. Gaines with a sense of humor)