Austin homes sales volume is looking good for both 2013 and 2014 according to Dr. Mark Dotzour, Texas A&M Real Estate Centers economist. For decades he and his team have analyzed enough home sales data to know that there are 3 basic things that help predict future home sales volumes in Austin, Tx.
Job Growth – Texas almost always has double the national average in job creation. For example in August it was 2.4%. Austin boasts a 2.9% job growth rate!
Low Home Mortgage Rates – Rates have averaged 3.5% to 4% for quite some time now however that is slowly changing. Rates will eventually creep up……..however the question is when?
Home Price Appreciation – Austin home prices have had a steady increase in appreciation over the last decade……unlike other areas such as California or Nevada where home prices quickly skyrocketed and then dropped significantly.