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Austin homebuilding on record pace despite slightly cooling market

Austin homebuilding on record pace despite slightly cooling market
statesman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from statesman.com Daily Mail and Mail on Sunday newspapers.

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Austin-area home sales and prices set new records

That s according to the latest home-sales report the Austin Board of Realtors released Tuesday.
The April report provides the first direct comparison one year later to the first full month of the coronavirus pandemic, after COVID-19 lockdown orders last spring abruptly plunged the region s housing market into uncharted territory as the nation registered its highest unemployment level since the Great Depression.
It didn t take long for the housing market to begin recovering, and by last summer it was roaring back.
Last month s sales and prices continued the trend.
In April, the number of home sales and median prices, in both the five-county Central Texas region and the city of Austin, saw soaring double-digit growth and once again set records, the board said. ....

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Austin housing boom has homebuilders struggling to keep pace, prices soaring

Austin housing boom has homebuilders struggling to keep pace, prices soaring
Home construction is booming at a rapid pace across the Austin region but it s still not fast enough to keep up with torrid demand, builders and local housing market experts say.
Builders started work on a record number of new homes in the Austin area in the first quarter, according to Zonda, a firm that tracks the housing market. But supply has still not caught up with demand, and that lag coupled with factors including higher costs for lumber and other home-construction materials and a surge of newcomers, many of them affluent continues to drive home prices up. ....

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Hotel Investment Guide: How To Buy And Sell Hotel Real Estate? | By Catherine Rey – Hospitality Net

By Catherine Rey, Sales & Marketing Manager at EHL Advisory Services
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It s not on the average person s to-do list to buy a hotel, or sell one, for that matter. Therefore finding trusted guidance and information on how to buy and sell hotel real estate can be difficult or outdated. Whether you re interested in this topic because you re doing research on how to go about buying a hotel property in the future, or whether you re actively buying or selling a hotel at the moment and need to answer some burning questions, or you re simply curious about the hotel real estate market and the hotel industry itself - this guide will put you on the right track. ....

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Austin home prices soaring, experts say there's no housing bubble

The white-hot housing market in the Austin area continues to blaze, with the median sale prices for homes hitting all-time highs in March and real estate experts say that even as demand soars, the region is showing no warning signs that it s experiencing a housing bubble that is at risk of bursting.
For the five-county metro area which runs from Georgetown to San Marcos the median price for homes sold in March was a record $425,000, up 28.8% from March 2020, according to the Austin Board of Realtors. That means half the homes sold for that amount and half sold for less.
Within Austin s city limits, the prices were even higher, with the median price at a record $514,000, which was up 24.8% from March 2020. ....

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