Skip to main content

Per Haven Magazine; "Texas Market Shows No Sign of Slowing"

 AUSTIN/SAN ANTONIO

Texas Market Shows No Sign Of Slowing

Over the past year, almost every state in the United States has seen a huge increase in their housing market, with inventory struggling to keep up with demand, but no one has seen an increase quite like Texas has. 2020 brought people flocking to Texas from all over which lead to massive growth in home sales, pushing prices higher and making the once well-balanced market a competitive one.

Covid-19 has forced many people to reevaluate their living situation and we have seen them making the move from cities to suburbs and to states with more favorable taxes. Now, Texas is seeing record-low inventory and record-high demand for homes in the popular cities of Dallas, Houston, San Antonio, and Austin.

Austin has seen huge population growth over the last 5 years. With new trendy restaurants and massive companies such as Tesla making the city their home, they simply cannot keep up with the demand for housing. The median home price in Austin is sitting at a whopping $575,000, making it one of the highest in all of Texas. Homes in the area are sitting on the market for an average of only 13 days and the amount of homes on the market continues to dwindle. As of right now, the inventory available is 0.6 months which means if no new homes are added to the market, Austin will be completely sold within 2 weeks.

In Houston, the area has seen its thirteenth straight month of positive sales. Like many other real estate markets, buyers are seeing that they are oftentimes competing with all cash, over list price offers. Even though the Houston market is competitive, it has been named one of the best long-term real estate investments and since 2012 has seen an appreciation in prices of almost 60%, so the wait may be worth it. In the past year home values in Houston have seen a rise of 10% and it seems as though they will continue to rise well into 2022 only proving further that Houston is a highly sought-after market.

Known for its amazing food scene and high-end suburbs, Dallas has always been a competitive real estate market, however, the past year has propelled this popular city even further. Just in the last year, the average sales price has risen 21% and days on market declined, making Dallas a highly competitive market for buyers looking to make the move to the area.

Since the beginning of the Covid-19 pandemic, many suburbs across the nation have seen a rise in interested home buyers looking to move away from the hustle and bustle of the city. Suburban home prices are expected to continue rising well into the end of 2021 and Dallas features some of the most highly sought-after suburbs including Southlake, Frisco, and University Park.

San Antonio, which is only an hour from Austin and three hours from Houston, has seen record growth over the past 10 years. On average, 66 people are moving to the city per day, possibly due to the low tax rate and affordable cost of living which has made it one of the fastest-growing cities in the United States. Home to many major employers, the job market in San Antonio has seen a huge uptick which could be a factor in the population growth and rising home prices. The average listing price for homes in San Antonio is $271,000, way below the average in Texas, pointing to the fact that San Antonio could be a hot market for real estate investment in 2021 and into 2022.

Consisting of El Paso, San Angelo, and Odessa, just to name a few, West Texas has become a major market for buyers looking to make the move to the state. Like many other Texas towns, San Angelo has seen a rise in home prices but a decline in inventory. El Paso is seeing a considerable amount of out of town buyers, coming from California, Denver, and other insanely priced real estate markets. According to one Texas real estate agent, people can sell their homes in those markets and then sometimes buy two or three homes in El Paso.

It’s clear that the Texas real estate market shows no sign of slowing down. From the number of major employers moving to the state to the out-of-town buyers attracted to the low tax rate and affordable cost of living, experts seem to think this trend will continue into 2022.

Comments

Popular posts from this blog

Per Moneywise, Grant Cardone says, "I wouldn't touch the real estate markets of either Austin, Texas or Seattle Washington with a 10 foot pole."

‘I wouldn’t touch Austin, Texas or Seattle, Washington with anybody’s money’ : Grant Cardone says these two major US cities are some of 'the worst markets to be in right now' for real estate investors — here's why Story by Bethan Moorcraft • click here for the exact moneywise article  prolific real estate investor Grant Cardone has singled out two U.S. property markets he wouldn’t touch with a 10-foot pole: Austin and Seattle. Cardone shared this hot take — and many others — in an  interview with Moneywise  after he prompted an AI chatbot to answer the question: “What are the 10 best markets for investing in rental real estate in America?” The AI Smith response started with: “The best markets for investing in real estate in America can vary depending on factors such as population growth, job opportunities, rental demand, affordability and potential rental income.” Up until that point, Cardone — who performed the task live on camera — was pretty happy with the response. But

Click here to watch GVM's Unicorn 1 minute Rant against the "concrete vision plan" for Zilker Park & Barton Springs Pool

Click here and skip to 1 hour 30 minutes to VIEW the Unicorn's GVM 1 minute testifying Downtown Austin City Hall council chambers Rant! Or below is a TIK TOK, my brother Willy McGee created for fun..                                                 

The Future of Clarksville & Old West Austin? West 12th and West Lynn Blvd. Recap of Meeting Between the Neighborhood & Zydeco Development.

 Recap of Meeting Between the Neighborhood & Zydeco Development That the CCDC Organized On December 6 th , the principals of Zydeco Development, Meghan Yancy and Wes Gilmer, as well as Miguel  Rivera with Miro-Rivera Architects, talked with neighborhood residents about its plans for redeveloping thebuilding that formerly housed Nau’s, and where Anthony’s is still located, the parking lot between Anthony’s and CafĂ© Medici, the house where the coffee house is located, and the two houses on Eason that back up to the parking lot. Zydeco, a small, local real estate development firm founded by Howard Yancy, closed on all of this real estate  about three months ago. Miguel Rivera who lives on Patterson, is Zydeco’s architect for the project. Meghan lives on 14 th Street. During the meeting, Miguel and Meghan emphasized that they understand how important the properties along West Lynn are to the neighborhood, especially the “Nau’s building,” because they are neighbors. Meghan explained