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I attended the 2022 Central Texas Housing Summit earlier this week and had the pleasure of listening to George Ratiu, Senior Economist & Manager of Economic Research, realtor.com® provide his outlook on the real estate market and how we’ll transition for the rest of 2022. Here are some takeaways…
NATIONAL HOUSING SHORTAGE
REMOTE WORK TREND
IT’S NOT A BUBBLE
The June numbers are in and with just two months of inventory, Austin continues to be in a sellers’ market, but things are certainly transitioning toward something more balanced. This is RATIONAL BEHAVIOR as we trend towards more inventory, slowing appreciation and longer days on market. The market is still seeing healthy demand, especially in Austin!
Everyone is watching rates…especially because rates ticked up just as real estate prices reached their peak. The combination has a direct impact on buying power, especially for those at the entry level. Ratiu believes this is 1-3 year monetary policy. In the interim, banks are still lending, albeit at a higher rate. They are also getting very creative with buy-down products.
It’s HOT and we’re all looking for fun ways to beat the heat…how about a fruity, herby or frozen drink? There’s a great variety of summer cocktails (or mocktails) that embrace the flavors summer! Sweet watermelon, juicy peaches, herbaceous mint and basil, and bright berries. Here’s Austin Eater’s picks for the 8 Hottest Cocktail Destinations. CHEERS🍹
Austin City Limits is thrilled to announce the long-awaited return of a favorite Texas son on August 24th—singer, songwriter and ACL Hall of Fame legend Lyle Lovett—appearing with his iconic Large band to showcase 12th of June, his first new album in ten years. MORE
AUSTIN AREA MARKET STATS:For those who love a good spreadsheet, here are the latest Austin market stat. JUNE 2022 REPORTS HERE
BUYER GUIDE: It’s not easy buying in a market with rising prices and limited inventory. We can help you through the process. BUYER GUIDE
SELLER GUIDE: How do you make sure you get the most money for your home? From pricing to marketing, we’ll customize a plan to ensure you get the most money for your home. SELLER GUIDE
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The information contained herein does not purport to be complete nor, necessarily, accurate and should be independently verified; nor does it represent or constitute a legal analysis or financial advice. All of the financial projections and/or conclusions are provided for illustration purposes only. Compass and its agents disclaim any and all liability for representations and warranties, express or implied, contained in, or for omissions from, the information contained herein or any other written or oral communication transmitted or made available to the recipient. This represents an estimated sale price for this property. It is not the same as an opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.