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Market News and Trends

Market Forecasts


I just posted a few articles on www.AustinMarketInfo.com from HousingPredictor.com:

Best 25 Housing Market Forecasts in 2010

Worst 25 Housing Market Forecasts in 2010

Texas

Certainly I am pleased to see Austin among the 25 best, but I am equally happy to see us near the bottom of that list … for a number of reasons:

  • Most of the metro areas above us on list suffered extreme losses of property value and equity, were the hubs of the worst kinds of subprime lending, and have experienced the largest proportions of defaults and foreclosures in the United States.
  • I do not believe that market expansion in the 15% to 20% annual range is sustainable.  In fact, I would argue that years of that kind of growth is the reason many of those markets crashed so badly in the past couple of years.
  • Because Austin and Central Texas did not experience the “irrational exuberance” of housing markets in the four states where the most serious losses happened, we have weathered the recession better than almost everybody.  Our market was among the last to enter the recession, and we were recognized as one of the first to enter the recovery phase.
  • Since our average and median prices are very nearly where they were two years ago, we can enjoy reasonable growth and appreciation in the future.  This kind of predictable market expansion may be boring for the gamblers and speculators among us, but in my opinion this environment is far better for homeowners and local tax payers.

Being ranked #21, with a growth forecast of 3.6%, is great news to me!  Sure, I have been and I remain, an unapologetic cheerleader for the Austin area.  But sometimes being lower on a list is just right.

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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