Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for
Austin Tops Price Appreciation Since 2006
Dated: November 30 2017
This article offers some important information about Austin’s current housing market as compared to 2006, and presents signs that the US market (including Austin) is stronger than the pre-recession market in 2006:
Showed a 63% increase in the median home price since 2006.
Revealed a decreased share of foreclosure sales from 4.7% to 1.6%.
Unemployment rate dropped to 3.3% in 2017, as compared to 4.1% in 2006.
Signs of a stronger US housing market:
Average home loan FICO score for 2017 increased 34 points since 2006.
Lending standards tightened due to Dodd-Frank Wall Street Reform and Consumer Protection Act.
Over-building is under control.
Current home inventory is low (4.2 months supply).
The demand for homes is high and founded on a healthy economy.
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Keeping you informed,
Team Price Real Estate
Price Commercial Real Estate