Interesting article from ABJ today regarding the Austin metro area’s risk for home price declines. The article sites a report from Arch Mortgage Insurance Group, a Californian based mortgage insurance company interestingly enough, which says, “Most energy-patch states will experience slower economic and home price growth and a few areas may even see outright home price declines.” The report also ranks Austin metro area as the second most at-risk for a decline in home prices behind Houston.
Let me reassure home owners and prospective home buyers that our local market here in Central Texas is still moving at record paces. Though the official numbers for 2015 have yet to be certified by the local Board of Realtors, 2015 saw many housing stats continue to break; units per month, volume per month, average and median prices…
Yes it’s true we have already started to slow down, a bit, as evidenced by an increase in average time on the market. But as I said repeatedly last year, we’ve slowed from about 85 mph to about 75 mph in a 65 mph zone. That’s still a record breaking pace and I expect we’ll see more statistical records fall yet again this year.
If you’d like to discuss home ownership in our local market, I’d love to visit with you!