Austin Housing CRASH Over? Or, Still To Come?

Austin Housing CRASH Over! Or, still to come?

If you’re a buyer or seller, this video is very important. Additionally, I would like to discuss stat the most that no one is talking about or even looking at!

Let’s look at some numbers:

• Median price 3 months is a row has remained at 550K.
• 20 days of increase on days on market (or longer)
• 61% of the homes currently on market are vacant
• Half of this number is new construction homes. This is a LOT of homes vacant!
• Lot of clients are relocating BACK to California
• Interest rates have dropped from 7.08% to 6.6%

There are huge companies doing some lay offs like Facebook and Amazon.  Rental prices are beginning to drop.  If you’re on the fence about selling, you will have to offer a lot of incentives to overcome the fact that builders are offering a TON of incentives as well.  A way to combat the competition is also to lower the listed price on your home.

The MOST important stat that no one is looking at or even talking about is the fact that there will be a housing shortage based on the influx of the millennial population entering in the housing market until 2030.

So, with all of this information, what do you think of the current market? Please leave your comments under my blog and let me know what you personally think?