Austin Year End Market Update 2020 Edition

Posted by Israel Gutierrez on Wednesday, December 30th, 2020 at 8:04pm.

Austin is Blasting Off!

Austin is blasting off! And this isn't just a pun related to SpaceX CEO Elon Musk moving into town and bringing Tesla with him. 

The latest market stats from the Austin Board of Realtors is highlighted below. Inventory levels have reached historical lows in December, and we should see those stats next month. If you're a buyer in the current Austin Real Estate market you have likely experienced how tight and difficul the inventory levels have become. Even new home builders have inventory issues and delays that are creating long wait lists for upcoming phases and new communities. This is all due to a "perfect storm" of factors that developed over the last fews years. Austin has been a popoluar place to live for a long time. The mortgage crisis caused builders to lower inventory levels, and more recently, COVID and how different states have handled the pandemic has led to even more people flocking to Texas. When you combined this increased migration of people (and corporations)  to a market where inventory is already low.... Well, you get the idea.

 

 

Now is the time when having an experienced real estate broker in your corner can be extremely beneficial. Someone that knows how to help you win the bid, or get in on a hot opportunity before everyone else does. Interest rates will be staying put for at least anotehr year or two, and prices will be rising for several years to come - It's a great opportunity to make good on real estate investments and homesteads. Austin House Company is an essential business, and we're taking all the necessary steps to continue to serve our wonderful clients and customers as best we can.  If you have questions about how we're operating during the COVID-19 pandemic, or just need some simple guidance, don't hesitate to reach out to us. You can call our office at (512) 412-3564 or message us on FacebookInstagram, or Twitter. Happy New Year! Here's to a fresh start and a phenomenal 2021!

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