Report from the Front Lines: The Housing Boom

Downtown Austin

Central Texas’s booming housing market shows no signs of slowing.  2015, itself a record-breaking year for Austin market sales, will soon be outstripped by this year’s rapid activity, according to the Midyear Central Texas Housing Market Report facilitated by the Austin Board of Realtors.  Both sales and listings are increasing by the month, with a 6.1% increase in home sales and a whopping 20.1% growth in active listings!  Even though this listing increase brings the housing market closer to a balanced supply, ABoR President Aaron Farmer still says, “The demand far outweighs the supply right now.”  As such, with the Austin housing demand showing no signs of slowing, the fiery market is beginning to spread to the surrounding towns, like Round Rock and New Braunfels.

 

Reports from earlier this year already indicated that New Braunfels is the second most rapidly growing city in the country.  While this means that demand – and prices – will continue to rise, it also bodes well for the economic future of Central Texas.  Ray Perryman, a Texan economist, notes that the Austin-Round Rock area is, “widely recognized as one of the strongest economies in the nation.”  Perryman forecasts that the average amount of employment opportunities, as well as the average salary, will steadily increase over the next set of years.  New Braunfels in particular has over 50 primary, product-oriented employers – but the average home prices in the region are still significantly lower than those of other metropolitan areas.  As such, there never has been a better time to buy a home in New Braunfels or Austin.
To jump in the market while it’s hot, contact me today at bkastle@kastleman.com!

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