Austin Real Estate Market January – June 2019 Update
Are you planning on buying a home in the Austin Texas area before the end of 2019? If so, the good news is that the local real estate market remains strong.
During the first six months of 2019 homes sales in the greater Austin Texas area actually rose by 4.3 percent while home sales in the city of Austin declined by 1.6 percent (Source – Austin Board of Realtors).
“We have seen slight dips in Austin’s home sales before, but because this decrease is over the course of six months, it could be indicative of a larger trend,” Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. “Austin’s limited housing inventory—which dropped below two months in June—and increasing home prices have resulted in fewer sales over time. As Austin continues to be one of the most desired cities to live in the United States, the suburbs are benefiting from this demand.”
More People Are Moving To The Suburbs
There is no denying that Austin continues to be the “hot spot” for relocation in the United States and as of July 2019 many people who are moving to the ATX area are searching for homes in the suburbs first before looking in the city. This means that nearby towns like Round Rock, Hays County, Bastrop County and Williamson County are all very popular relocation destinations right now and demand for homes in these areas doesn’t show any time of slowing down soon.
What To Expect From The Second Half Of 2019
With mortgage interest rates currently hovering at 3.83 percent it’s likely that demand for real estate in the Austin Texas area will remain high for the remainder of 2019.
If you have been thinking about buying your first or second home in the Austin area now is the time to make your move especially before interest rates change or we have another major change in the real estate market.
To search for homes for sale in Austin, or to speak with me about selling your home, contact me today by calling (512) 944-7378 or click here to connect with me online.