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
December 12 2016 Austin Texas Metro SFR Activity
Dated: December 12 2016
December 12, 2016 Austin Texas Metro SFR Activity
As 2016 comes to a close what are the numbers telling us? Available homes inventory has dropped from recent trends. The number of homes under contract has dropped. The number of closings in the last 30 days is within the recent range. There have been recent factors that play into these changes.
1) Seasonal Drops 2) Election hype 3) Interest Rate increases
The Seasonal change seems pretty typical. Many people just don;t want to have their home open to showings during the holidays. I would only say to sellers that folks who are looking for a home to buy at this time are doing s for a reason, not just looking around.
Every four years durig the presidential election cycle one portion or the other gets uptight. I think it would scare me more if 80% of the people voted for one candidate. Would seem to be step toward a king/queen.
The recent rise in interest rates isa hard one to figure out. The rate hike seemed a little kee jerk to me. Yes, the FED has kept us in suspense for over a year on what they will do. This week's FED meeting (12/13 & 14) will be interesting. While some parts of the economic data look positive others are less so. Has anything really changed since their last meeting?
Here are the current trend lines.
Available Single Family Homes: 5866 ~ Hoes Under Contract: 3348 ~ Homes Closed Last 30 Days: 1848
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Morris "Bill" Austin ~ REALTOR® ~ Austin Board of REALTORS®
Team Price Real Estate ~ Austin Texas Metro
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