With labor and lots in short supply, home prices continuing to rise, and demand remaining strong thanks to job and population growth, this year’s housing market in Central Texas is looking much like last year’s.
But you don’t need to take my word for it. During the annual housing forecasting event earlier this year, real estate expert Eldon Rude, who has been tracking the entire Austin area market for more than three decades, shared this same assessment.
As I mentioned earlier, job growth has played a major role in the strength of demand in our Central Texas housing market. And with an average 27,300 new jobs coming to our area each year, it’s no wonder why this is the case. Even tech giants like Google and Facebook have been contributing to this growth.
The bottom line is this: As 2018 draws to a close and we head into the next year, we can expect our market to continue its recent upward trend. With that in mind, though, area buyers, sellers, and homeowners should also be aware that interest rates are on the rise, as well.
If you have any other questions, would like more information, or would like our team’s assistance in interpreting how these factors might impact your real estate goals, feel free to give us a call or send us an email. We look forward to hearing from you soon