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Texas Market Current Trends?

2,032 Views | 6 Replies | Last: 4 yr ago by RethinkTheWeekend
RethinkTheWeekend
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AG
Anyone have a feel for how RE market is doing in their area? I saw someone posted in a thread that College Station appeared to be slowing down. HAR reported that June sales were down compared to June last year (which was a record breaking year) but price was still up 2.9%. Houston total sales were down 5% compared to last June. Just curious if anyone else has a feel if the market(s) they watch were up, down, sideways? Appreciate any intel.
Bob_Ag
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AG
In the Austin Metro, its still up, but I would say maybe leveling off a bit. Of course, that is very region specific as there are some parts that have less than one month of inventory and prices are increasing quarter over quarter. In some other parts, particularly where you have an abundance of new construction, it's a little less crazy. I'm starting my second career in appraising and I cover from all four quadrants of Austin (Taylor to dripping Springs, Liberty Hill to Bastrop) and I would say there is not really a declining market, but there are stable markets (prices, days on market, supply).
Overall, its still pretty hot, but I think we might see prices start to stabilize as they've outpaced income for some time now. New construction is still happening like crazy in every part of the city.
SteveBott
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AG
State wide? flat. Like Bob said its location specific though.
RethinkTheWeekend
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AG
Thanks Bob and Steve. Individual markets is what I was looking for. Sorry I could have clarified that in the OP although statewide is interesting too. I follow markets along 59 from Houston south. Houston seems to be cooling slightly lately. Some areas south were late to the game in ramping up and haven't really slowed down (Victoria/Rockport) but both of those towns have hurricane Harvey causing weird data. Victoria days to sales is lowest in last 5 years. I have looked at a lot of MLS data but that can lag a few weeks vs. what people are seeing real time (like yourselves). Appreciate any data points or gut feels.
Diggity
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AG
My little market in Houston has been flat (leaning towards down) for a while now.

There are some pockets doing well but I think the market in general is facing some headwinds.
SteveBott
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AG
OP I doubt you will get a lot of good data here on the 59 corridor. Just not enough traffic on the forum. Mostly metros here.

Find area specific data. Probably pretty hard to find but it's somewhere
Bitter Old Man
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AG
I'm in the Austin Area, but work with rural/ranch property. It has DEFINITELY slowed down in the past year.

I think land prices have gotten so high that its keeping the smaller buyers out.
RethinkTheWeekend
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AG
Bitter - Thanks....my dad is a RE broker focused on ranch/land between Austin and San Antonio and he had the same comments.
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