WSJ: Home Sales Move Faster, Asking Prices Rise
Here in Texas, we’ve seen the real estate market lead the nation’s move out of recession. For more than a full year, Austin real estate prices have risen each month, and now the rest of the country is beginning to follow suit.
This is excellent news for Americans selling their home, and even better news for Americans investing in America’s real estate. As the national market continues its measured improvement, Texas and specifically Central Texas will stay well ahead of the curve, as increasing low housing inventory in the Austin area has turned the region to a seller’s market. Even new home construction has held steady for month across the county, while in Austin and Houston new construction levels are back to pre-recession numbers, according to Forbes and Trulia’s Housing Barometer.
This week, Alan Zibel wrote in the Wall Street Journal that home sellers across the country are seeing more offers from an increased number of buyers, and in turn, the average listing price on homes has risen nationally. As buyers and home prices increase, the amount of time that homes sit on the market is has plummeted from an average of 99 days on the market last Janurary, to just 69 days in July – and the trend is continuing.
To read Zibel’s article in the WSJ click here. To schedule a meeting with A List Partners to talk about getting return rates of 4-10% through passive investment in Central Texas real estate, send us an email.