Austin Housing Market Trends for January 2023
The Austin housing market has been in a state of flux due to the pandemic and other economic factors, and this trend is expected to continue in 2023. Despite the price decrease and inventory gains in January, the market still needs more housing to be considered balanced between buyers and sellers. As the market continues to adjust, buyers and sellers alike should focus on month-to-month trends in addition to year-over-year comparisons to gain a better understanding of the current state of the market.
According to the latest Central Texas Housing Market Report provided by the Austin Board of REALTORS®, the Austin-Round Rock MSA housing market experienced a 6.3% decrease in median home prices to $450,000 in January 2023, which is the largest price drop since July 2011. Despite the decrease, the market still requires more housing as the monthly housing inventory remained steady at 2.7 months from December 2022. A balanced market between buyers and sellers is considered six months of available inventory. In this blog post, we will look at the housing market trends for January 2023 in Austin, Travis, and Williamson Counties, and explore what these changes could mean for buyers and sellers.
The Market Continues to Normalize
According to Ashley Jackson, 2023 ABoR President, the Austin-Round Rock MSA market is continuing to find a post-pandemic normal. The real estate industry is adjusting to changing market trends, and it is important to look at month-to-month changes for a true sense of what is happening in the region. The Austin Board of REALTORS® latest Central Texas Housing Report reveals that sellers are seeing opportunities in the market as new listings increased 63.4% to 2,988 month-to-month. Buyers are also active as pending listings increased 32.4% to 2,581.
City of Austin
The City of Austin saw a 4.6% decrease in median price to $525,000 in January 2023. Residential home sales declined by 37.3% year-over-year to 439 sales, while sales dollar volume decreased by 35.0% to $295,909,860. Active listings rose by 387.5% to 1,760 listings as pending sales declined by 26.0% to 678 pending sales. New listings increased by 13.0% to 886 listings, and monthly housing inventory increased by 1.9 months year-over-year to 2.2 months of inventory.
Travis County saw a 5.9% decrease in median price to $499,274 in January 2023. Residential home sales declined by 31.7% to 749 sales, while sales dollar volume decreased by 31.3% to $492,893,906. Active listings ballooned by 421.9% to 3,116 listings as pending sales declined by 22.3% to 1,130 pending sales. New listings increased by 17.0% to 1,410 listings, and monthly housing inventory increased by 2.0 months year-over-year to 2.4 months of inventory.
Williamson County saw a 4.9% decrease in median price to $437,500 in January 2023. Residential home sales declined by 26.2% to 556 sales, while sales dollar volume decreased by 28.8% to $269,359,523. Active listings soared by 654.1% to 2,383 listings as pending sales dropped by 11.4% to 909 pending sales. New listings increased by 6.8% to 892 listings, and monthly housing inventory increased by 2.3 months year-over-year to 3.0 months of inventory.
Affordability Challenges and Rising Interest Rates
One of the major challenges that buyers will face in the Austin housing market in 2023 is affordability. As the city continues to grow, housing prices have increased, making it difficult for many buyers to enter the market. In addition, rising interest rates will also play a significant role in market activity. Therefore, it is important for buyers to work with local real estate experts who can help them navigate the changing landscape of the real estate market.
Although the Austin housing market is experiencing a downturn, the market still needs more housing. Outlying areas like Caldwell and Hays counties are becoming more attractive as buyers search for affordable housing. Rising interest rates and affordable housing will be the major drivers challenging consumers in 2023, and it is important for buyers and sellers to work with a REALTOR® who understands the changing landscape of the real estate market. As the market continues to adjust, it is vital to look at month-to-month trends in addition to year-over-year comparisons to have a better understanding of the current state of the Austin housing market.
Is Austin Housing Market Overpriced?
The question of whether the Austin housing market is overpriced is a subjective one and can depend on several factors. Firstly, it is important to note that the Austin housing market has been experiencing an unprecedented level of demand over the past few years. This demand has been driven by a combination of factors, including a strong local economy, a growing population, and an influx of out-of-state buyers. This increase in demand has resulted in a significant rise in the median home price.
Recent research suggests that homes in Austin continue to be among the most overvalued in the United States. The study conducted by researchers from Florida Atlantic University and Florida International University reveals that homebuyers in Austin are still paying almost 51% more than what is expected for homes. Only Boise, Idaho, has a higher premium, with homebuyers paying an exorbitant 81% more.
However, it is equally essential to compare the affordability of homes in Austin to other major cities. Although the median home price in Austin is high compared to historical norms, it is still lower than in cities like San Francisco, New York, or Los Angeles. Additionally, Austin's cost of living is generally lower than other major cities, which can make it more feasible for some buyers to own a home.
Another aspect to consider is the potential growth of the Austin housing market. While it is impossible to predict the future, many experts believe that Austin's robust economy and growing population make it a worthwhile long-term investment for homebuyers. Furthermore, the city has a diverse economy, making it less vulnerable to economic shocks.
Ultimately, whether or not the Austin housing market is overpriced is subjective. While some buyers may find the high prices unaffordable, others may see it as a sound investment in a thriving city. It is crucial for prospective buyers to assess their financial situation and goals before deciding to purchase a home in Austin or any other market.
Austin Housing Market Forecast 2023
What are the Austin real estate market predictions for 2023? Despite cooling off from its peak. Austin will remain a seller's market despite nationwide inflation and rising interest rates. The prices continue to rise across Austin MSA. The main reason is strong in-migration and a rapidly recovering local economy. According to the Census Bureau’s 2021 population estimates, Austin's population is increasing by 146 people every day. This type of expansion places immediate and substantial demands on infrastructure, especially housing.
Austin's rapidly expanding economic industry is driving more people into the city which is increasing the housing demand. A number of reasons have affected the present situation of the Austin housing market, one of which is the high migration of firms and persons relocating to the city from Texas and out-of-state, which has led to a robust and varied economy that attracts people seeking opportunity.
A surge of people moving in, combined with rapid population growth and low mortgage interest rates, has turned Austin and its surrounding area into a sellers' market. Austin’s engine of job and population growth is not projected to slow down anytime soon—the biggest drivers of residential real estate demand. Its economy has diversified and strengthened over the past two decades.
Companies like Google and Tesla are moving operations to Austin. The software giant Oracle has also relocated its headquarters here. As more companies move here, that means more people looking for homes, and the city is also attractive to outside investors. With a steady influx of job creation in the pipeline, the housing market will continue to post strong numbers. Big companies moving here will also play into what happens to the housing market.
With an all-time high in corporate relocations, the housing demand is way up and the supply side cannot match up. All these factors indicate that this region has a higher probability of withstanding economic downturns due to the current pandemic. To determine the best local real-estate markets in the U.S., WalletHub compared 300 cities of varying sizes across 24 key indicators of housing-market attractiveness and economic strength.
They looked at factors like median home-price appreciation to home sales turnover rate to job growth. The city of Austin's real estate market came in at number 7 overall and 3rd among large cities. Boise was found to be the best market in the nation, followed by Seattle, Frisco, Nashville, and Gilbert in the top five.
NeighborhoodScout's data also shows that Austin real estate has appreciated 196.13% over the last ten years, which is an average annual home appreciation rate of 11.47%. This figure puts Austin in the top 10% nationally for real estate appreciation. During the latest twelve months (between 2021 Q3 – 2022 Q3), Austin's appreciation rate was 19.10%.
In the latest quarter (between 2022 Q2 – 2022 Q3), Austin's appreciation rate has been 6.82%, which annualizes to a rate of 30.20%. However, higher mortgage rates mean it's more difficult to afford a home now, but the reduced demand also means less competition. Therefore, the appreciation will remain very modest in 2023 depending on how the mortgage rates trend. For long-term investment, you cannot underestimate Austin. Investing in a rental property for the long term would build your equity and also generate cash flow through rental income.
Here's Zillow’s housing market forecast for Austin-Round Rock Metro. The Zillow Home Value Forecast (ZHVF) is the one-year forecast of the Zillow Home Values Index (ZHVI). ZHVF is created using all homes, mid-tier cut of ZHVI, and is available both raw and smoothed and seasonally adjusted. Austin-Round Rock Metro's home values are expected to drop by 2.1% between Jan 2023 and Jan 2024. According to their forecast, the supply and demand dynamics will likely push down prices over the next 12 months.
- Typical Home Values: $481,739
- 1-year Value Change: +3.7%
- 1-year Market Forecast: -2.1%
These numbers can be positive or negative depending on which side of the fence you are — Buyer or Seller? In a balanced real estate market, it would take about five to six months for the supply to dwindle to zero. In terms of months of supply, Austin can become a buyer’s real estate market if the supply increases to more than five months of inventory. And that’s unlikely to happen in the near future. The inventory in Austin MSA is still short but with inventory steadily increasing, right now is a good time to be a homebuyer in Central Texas.
Is Austin Texas Good for Real Estate Investment?
Should you consider Austin real estate investment? Many real estate investors have asked themselves if buying an investment property in Austin is a good investment. You need to drill deeper into local trends if you want to know what the market holds for real estate investors and buyers in 2023. Let’s discuss a bit about the Austin metro area and then do a quick recap of how its housing market performed during the pandemic.
Austin is a minimally walkable city in Travis County with a population of approximately 790,195 people. It is the capital of Texas and it is growing at a fast clip. It is the fourth largest city in the state of Texas. The Austin real estate market isn’t the largest in the state of Texas, but there are several reasons to consider buying real estate in this city. The Austin housing market has gained a lot of steam, with home values almost doubling since 2010. It isn’t as big as Dallas, San Antonio, or Houston.
However, the Austin housing market is sizable – it is the eleventh largest city in the U.S. as of this writing, and it is the center of a large metro area. Austin has come up as another tech hub in the last 5 to 6 years. There are tons of high-paying tech jobs that moved to Austin in the last couple of years. The Austin-Round Rock metro area is home to about two million people. Recently Austin was ranked eighth for the best real estate markets, topping all other big Texas cities.
As per Neigborhoodscout.com, a real estate data provider, one and two-bedroom single-family detached homes are the most common housing units in Austin. Other types of housing that are prevalent in Austin include duplexes, rowhouses, and homes converted to apartments. Single-family homes account for about 46% of Austin's housing units.
According to ABoR, Austin's competitive housing market is changing the landscape of traditional homeownership. More homebuyers purchase condos and townhomes to live closer to the urban core or stay within their budget. Austin has been one of the hottest real estate markets in the country for many years. It has a record of being one of the best long-term real estate investments in the U.S. over the past 10 years.
It is currently a moderate seller’s real estate market. Austin's immense population growth during the past decade has heavily impacted its real estate market. Although this article alone is not a comprehensive source to make a final investment decision for Austin, we have collected ten evidence-based positive things for investors who are keen to buy an investment property in Austin. Texas is unique for having a biannual legislature. They don’t have the state legislature in town year-round. Instead, they are only in session for several months every two years.
This leads to an influx of legislators, reporters, and lobbyists every other year. This creates a unique but predictable boom and bust for the Austin housing market in the vicinity of the capitol building. Let’s look at the state of the Austin real estate market and the factors driving the market in the short and long term.
Is Austin Housing Market In A Bubble?
Determining whether the Austin housing market is in a bubble is a complex issue that requires a careful analysis of various factors. On the one hand, there are some indications that the Austin housing market may be overvalued. For instance, the median home price in Austin has been rising rapidly, with some homes selling for well above their asking price. Additionally, as previously mentioned, a recent study found that Austin homes are among the most overvalued in the country.
On the other hand, there are some factors that suggest the Austin housing market may not be in a bubble. For example, the strong demand for housing in Austin is being driven by genuine factors, such as a growing population and a strong local economy. Furthermore, the city has a diverse economy that is not overly reliant on any one industry, which can help to insulate it from economic shocks.
It's also important to note that while the median home price in Austin has increased significantly, it is still lower than in other major cities such as San Francisco, New York, or Los Angeles. Additionally, Austin's cost of living is generally lower than in these other cities, which can make homeownership more accessible for some buyers.
In conclusion, while there are some indications that the Austin housing market may be overvalued, it is difficult to definitively say whether it is in a bubble. Prospective homebuyers should carefully consider their own financial situation and goals before making a decision to purchase a home in Austin or any other market.
Cost of living In Austin
The Austin-Round Rock metro area is home to about two million people. The city is known as a haven for live music, free thinking, and free spirits. It has a distinct culture and flavor compared to the rest of Texas, which is a mostly conservative and traditional state. According to WalletHub, among large U.S. cities, Austin ranked eighth, topping all other big Texas cities as well as San Jose, Atlanta, and Portland. Among all 300 cities, Austin still ranked a respectable No. 36 for best real estate markets.
One of the factors driving the Austin real estate market is the intangible but well-documented quality of life the city provides. In 2017, US News and World Report ranked the city first for quality of life. In 2016, Austin was ranked first on the Forbes list of Cities of the Future list. In 2017, that same magazine ranked the South River City neighborhood as one of the best for Millennials. WalletHub ranked the city sixth in their list of best places to live in 2017. In 2012, the FBI ranked Austin as one of the safest cities in the country.
Aside from high housing prices, the cost of living in Austin is relatively affordable. Overall, the cost of living for Austin is very reasonable. At three percent below the national average cost of living, moving to Austin may be an economical choice for you. One of the most interesting factors in the cost of living for Austin is that the cost of housing is 15 percent below the national average.
According to Sperling’s Best Places, grocery costs in Austin are slightly below the national average, with a rating of 89.1 against the U.S. average of 100, meaning it is about 11 percent lower than the national average on groceries.
The sales tax rate in Austin is 8.25 percent. There are no income taxes in Texas. Schools are largely funded through property taxes, which rise along with home prices. As home prices continue to skyrocket and people are increasingly forced to move to the distant suburbs to find affordable housing, a massive reworking of Austin’s building codes, known as CodeNext, promised to deliver some relief.
The median salary in Austin, TX is $51,596 and it is the 108th most expensive city in a database of 232 cities by NerdWallet.com. For a 2-bedroom apartment, the median rent per is $1,184. The median price for a 3/2 bedroom house is $276,634. Food and entertainment costs in Austin are reasonable. Redwood Austin is the area with the lowest cost of living.
Areas With The Lowest Cost of Living in Austin – (List by Niche.com & prices by Livability.com)
- Redwood, Texas – Located in Guadalupe County. The median income in Redwood, TX is $47,778 and the median home value is $54,700.
- Lockhart, Texas – Located in Caldwell County. The median income in Lockhart, TX is $48,884 and the median home value is $115,400.
- Martindale, Texas – Located in Caldwell County. The median income in Martindale, TX is $43,929 and the median home value is $151,200.
- Uhland, Texas – Located in Hays County. The median income in Uhland, TX is $40,662 and the median home value is $78,100.
- Taylor, Texas – Located in Williamson County. The median income in Taylor, TX is $42,793 and the median home value is $116,600.
- Lago Vista, Texas – Located in Travis County. The median income in Lago Vista, TX is $75,126 and the median home value is $189,400.
- Elgin, Texas – Located in Bastrop County. The median income in Elgin, TX is $50,369 and the median home value is $104,000.
- Hornsby Bend, Texas – Located in Travis County. The median income in Hornsby Bend, TX is $49,077 and the median home value is $123,000.
- Round Rock, Texas – Located in Williamson County. The median income in Round Rock, TX is $72,412 and the median home value is $179,900.
- Wimberley, Texas – Located in Hays County. The median income in Wimberley, TX is $59,167 and the median home value is $214,600.
Austin's Massive Student Population Propels The Rental Investment
Many people want to invest in the Austin real estate market because there is a massive student population that will rent properties for a premium if they’re within easy commuting distance of the University of Texas Austin campus. That school alone has more than 40,000 students. The Austin community college hosts about as many students as UT Austin. Huston Tillotson University, Saint Edward’s University, and National American University are also located in this city.
Positive Demographic Momentum of Austin: About half of Austin’s population is between 18 and 44, though that figure is skewed by the large student population. However, the reality is that many college graduates choose to stay here because of the abundant, well-paying jobs. After all, Austin has the highest per capita of high-paying jobs of any Texas city. This helps explain why the Austin housing market is growing at the fastest rate of any major city in Texas. Many of these young adults are starting their families here, creating certain future demand for housing in the Austin real estate market.
Rental Market Statistics: Before the pandemic, the average rent for an apartment in Austin was growing at 5% annually (Source: RENTCafe). 48% of the households in Austin are renter-occupied which is a significant population. More than 65% of the apartments can be rented for $1,500 or less. Around 20% of the rental apartments fall in the price range of $1,500 to $2,000 while only 10% of the apartments fall in the rent price range of $2,000 or more.
The average size for an Austin, TX apartment is 864 square feet with studio apartments being the most affordable. 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer more generous square footage.
As of February 26, 2023, the average rent for a 1-bedroom apartment in Austin, TX is currently $1,660. This is a 4% increase compared to the previous year. Over the past month, the average rent for a studio apartment in Austin increased by 32% to $1,482. The average rent for a 1-bedroom apartment increased by 1% to $1,660, and the average rent for a 2-bedroom apartment remained flat.
The Zumper Austin Metro Area Report analyzed active listings across the metro cities to show the most and least expensive cities and cities with the fastest growing rents. The Texas one bedroom median rent was $1,160 last month. Austin was the most expensive city with one bedrooms priced at $1,660 whereas San Marcos ranked as the most affordable city with one bedrooms priced at $1,220.
The best place to buy rental property is about finding growing markets. Cities like Round Rock, Cedar Park, and Pflugerville are good for investors looking to get started with rental property ownership at an affordable price. These cities look good for rental property investment this year as rents are growing over there. These trends provide a macro look at the growing rental demand. Each real estate market has its own unique supply-demand dynamics with unique neighborhoods that present their own opportunities for investors.
Here are the best areas to invest in a rental property in the Austin Metro Area. Most of these places have the same things in common, including rising rents and increasing property values. The Most Affordable Neighborhoods in Austin are University Hills where the average rent can go for $795/month, Heritage Hills, where the average rent can go for $795/month, and Windsor Hills, where the average rent can go for $833/month.
Where are rents growing fastest in Austin Metro Area (Y/Y%)
- San Marcos had the fastest growing rent, up 14% since this time last year.
- Austin was second with rent climbing 7.1%.
- Leander ranked as third with rent increasing 6.6%.
The Fastest Growing Cities For Rents in Austin Metro Area (M/M%)
- Pflugerville had the largest monthly rental growth rate, up 4.2%.
Austin Is The Silicon Prairie
Austin Texas has been nicknamed Silicon Hills and Silicon Prairie because they’ve attracted so many high-tech employers. This has resulted in an active upscale Austin real estate market. Austin’s GDP, which grew 117% over the last 20 years, helped the real estate market recover from the recession.
The closest metro to see this type of growth was Silicon Valley, which grew its GDP by 99% during the same period. Major local employers in Austin include IBM, Amazon, Apple, Cisco Systems, and many semiconductor manufacturers. There are more than 3300 tech companies in the region and more than 100,000 tech workers all competing for homes in the Austin real estate market.
One of the long-term strengths of Austin is its diverse economy. The Austin real estate market dipped after the layoffs of the Dot-Com boom. They decided to solve the problem by encouraging medical and biotech employers to relocate to the area, too. As of this writing, there are 85 biotech and pharmaceutical companies in Austin.
Austin is a Relatively Friendly City for Landlords
Texas, in general, is very landlord-friendly, though cities can have their own, stricter ordinances. Texas doesn’t specifically let tenants withhold rent for failure to provide essential services. You can evict someone for nonpayment of rent after three days. Texas doesn’t set a limit on security deposits.
Texas doesn’t require a minimum time frame before you increase the rent. For major lease violations, you can terminate the lease then and there and give them three days to vacate. Knowing you won’t spend months trying to evict a non-paying tenant is a good reason to consider the Austin real estate market or another Texas housing market over more liberal cities.
The Excellent Tax Environment
Texas’ property taxes may be high, but this is offset by the lack of a state income tax. There is, overall, a low state and local tax burden for investors. That makes this a great place to buy a home and rent it out.
Texas Real Estate Investment Opportunities: Where To Invest?
With Austin becoming a more diverse city every year, there are plenty of opportunities to take advantage of – from buying new homes to different investment options in the Austin real estate market. Austin is a leader across the country with jobs and when you combine that with home prices not as drastically increasing, you'll get a real estate market that many others envy.
Good cash flow from Austin investment properties means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding the best investment property in Austin in a growing neighborhood would be key to your success.
As with any real estate purchase, act wisely. Evaluate the specifics of the Austin housing market at the time you intend to purchase. When looking for the best real estate investments in Austin, you should focus on neighborhoods with relatively high population density and employment growth. Both of them translate into high demand for housing.
Some of the popular neighborhoods in and around Austin are Northwest Hills, Downtown Austin, West Lake Hills, Brushy Creek, Barton Creek, Spicewood Summit, Mueller, South Austin, Hyde Park, Windsor Park, Crestview, North Austin, Allandale, Shady Hollow, Rollingwood and Steiner Ranch.
There are around 75 neighborhoods in Austin. Tarrytown has a median listing price of $1.5M, making it the most expensive neighborhood. West University is the most affordable neighborhood, with a median listing price of $325K. (on Realtor.com).
Downtown is where the city's high-rise buildings are located, as well as being the center of government and business for the region. Downtown Austin is expanding and the residential options are increasing.
The cost of real estate might be the highest in Austin, but residents live within walking distance of everything they need. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable.
Apart from the Austin real estate market, you can also invest in the housing market of Houston, TX. If you are a home buyer or real estate investor, Houston has a track record of being one of the best long-term real estate investments in the nation through the last ten years.
The Houston Real Estate Market forecast is good, and current housing prices are relatively low, so if you want to get on board the Houston real estate investing then now would be a great time to do so.
The Houston metro area offers great opportunities for investors who are looking for a stable market that offers both cash flow and equity growth at a price that is STILL well below their replacement value.
The El Paso real estate market is another hot market to invest in. El Paso real estate market was ranked 4th in Trulia’s hottest real estate markets to watch in 2018. El Paso’s strong job growth, affordability, low vacancy rates, and high population of young households were pivotal in the ranking process.
The cost of living in El Paso is lower than the national average, while the cost of housing is well below that of other major metropolitan areas, including Houston and Austin.
The Central, Cielo Vista, and Mesa Hills areas offer more affordable rental properties for sale, while neighborhoods in the northwestern and eastern parts of the metro area have some of the more expensive housing inventory. The amount residents spend on everyday expenses, such as food and transportation, is slightly less than what the average American pays.
The next one is the San Antonio real estate market. The median home value in San Antonio is $184,322. San Antonio home values have gone up 4.8% over the past year and Zillow predicts they will rise 1.9% by Dec 2020. For those who want to invest in rental real estate, the San Antonio real estate market is an ideal location because of its outsized military presence.
Fort Sam Houston is located inside the city limits. Lackland Air Force Base, Randolph Air Force Base, Camp Bullis, and Camp Stanley are located in the immediate vicinity. This means that there is a large population that will almost always rent because they don’t know where they’ll be sent on their next assignment.
San Antonio has a dearth of affordable housing because demand is so much greater than the supply. This has created a large number of renters who need to pay quite a bit to rent apartments or single-family homes. We know there is a lack of housing relative to demand when a balanced market has a 6 month home inventory and San Antonio has only a two-month inventory.
How can we not mention Dallas on this list? The Dallas housing market 2020 is shaping up to continue the trend of the last few years as one of the strongest markets in the United States. Despite some fluctuations in the market, demand and sales have continued to climb at a feverish pace for more than two years and show no signs of stopping.
Dallas’s local economy is a mix of aerospace, computer chips, telecommunications, transport, energy, and healthcare sectors and the Finance and Business Services. These sectors are all providers of good wages which allows for a strong market for Dallas investment properties.
Dallas’s population has grown at twice the national rate for years now and this pushes the prices of Dallas investment properties higher due to builders not being able to keep up.
Dallas’s housing prices have increased 29% over the last three years, even with these increases in home prices, they are still competitive for investment properties and you can expect further increases over the years. If you want to buy an investment property in Dallas, don’t wait around, go ahead and do it.
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Austin.
Consult with one of the investment counselors who can help build you a custom portfolio of Austin turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Austin.
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Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
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This article shouldn't be used to make real estate or financial decisions. Some of this article's information came from referenced websites. Norada Real Estate Investments provides no express or implied claims, warranties, or guarantees that the material is accurate, reliable, or current. All information should be validated using the below references. Norada Real Estate Investments does not predict the future US housing market. This article educated investors on Austin real estate. Buying a rental property needs research, planning, and budgeting. Not all investments are good. Always do research and consult a real estate investment counselor.
Market Data, Reports & Forecasts
Apartment Prices & Trends
Reasons to consider investing in Austin
Is Austin In A Bubble
Cost of Living