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Tandy on Real Estate
Tandy on Real Estate
Despite the reports of Millennials buying homes, there is an interesting trend happening in our housing market. We have homeowners who are content to stay in their current homes and an aging homebuyer. Let’s take a closer look.
American moves are the lowest on record.
400 years ago, refugees fleeing their home country’s hostile political environment bravely headed west over the Atlantic ocean in search of a better life. They arrived on a rock, unprepared for the challenges that come with moving to a new land: a shortage of food and inadequate shelter.
The average square footage of homes has been on the rise for a decade. We are seeing a shift in this as builders begin to cater more to the first-time homebuyer market. The U.S. Census Bureau reports show that the average new home size is now decreasing.
With the decreased home stock inventory and median single-family home price in Austin rising to $400,500 in August - up 2.7% compared with the same time last year — you might be wondering where to find an affordable place to live in the Central Texas area. It turns out two of the most affordable spots in Texas are right in our own backyard. In statistical comparison, Williamson County presented a median price for a single-family home remaining at $295,000, the same as August 2018.
Last year the number of home sales bought by investors was at a two-decade high. Interestingly, this growth was not from large institutional investors according to CoreLogic, but by small investors getting into the real estate investment game purchasing starter homes.
Texas leads the nation in energy production. Across every part of the great state of Texas there is energy potential and production. With the second-largest population and the second-largest economy in the nation after California, second only to Alaska in land area, Texas is not playing second in the energy sector.
Spring is here. Finally, after a long, cloudy and wet winter we have had a couple sunny days, the bluebonnets are starting to boom, allergies are on high alert, and the Spring buying season is starting. To help you prepare, here is a snapshot of the housing market forecast.
America’s total household debt increased by $193 billion (1.5%) to $13.15 trillion in the fourth quarter of 2017 according to the Federal Reserve. Student loan debt ranks as the second largest household debt falling behind mortgage, and in front of auto loans, credit cards and home equity loans.
Household Debt and Credit Developments as of Q4 2017