Found 2 blog entries tagged as Austin Real Estate Market.

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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The August 2022 Real Estate Market

What A wild RIDE!  2020 and 2021 and the first half of 2022 certainly took us on a wild ride.  Exhausting and UNHEALTHY!   Let's take a brief look back:  Sellers were getting 20 offers in 3 days.  Offers were well over asking price.  Buyers were paying 50-100K over appraised values while waiving appraisal clauses. The market appreciated 37% over two years! Inventory was at a record low of a two weeks supply and builders said take a number and get in queue.  NOT HEALTHY BY ANY STANDARD!  Oh, and interest rates will never again be 2.5%.

Not to mention supply chain problems and price of LUMBER up 45% at one point!

my perspective on the market

So let me put this in perspective - in my opinion (having been in the…

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