Austin Housing Market Update for February 2023Posted by Gay Puckett on
Today I attended a very positive economic lunch presentation by David Brown, EVP, with First Continental Mortgage in association with David Weekley Homes.
So what happened in the second half of 2022? And how is 2023 looking forward?
Austin real estate: then and now
Buyers had “Fear of Missing Out” because of excessively low inventory mixed with historically low interest rates. It was a buying frenzy! Then suddenly the FED started raising interest rates, calling “Inflation” “Recession,” and making buyers afraid of” Fear of Buying at the Top.”
Remember now you have 90% of homeowners with mortgages under a 5% interest rate, and 55% under 3.5% interest rates. Many are saying keep this investment, don’t sell such a…
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