Austin Mortgage Market Update – For the week of December 27, 2011
For the week of December 27, 2011 – Vol. 9, [...]
Austin Mortgage Market Update – For the week of December 19, 2011
For the week of December 19, 2011 – Vol. 9, [...]
Austin Mortgage Market Update – For the week of December 12, 2011
The housing recovery may be proceeding slowly, but things are definitely not at a standstill. Earlier this year, an industry rent vs. buy index found it is more affordable to buy than rent a two-bedroom home in 72% of America's 50 biggest cities. In fact, renting was less expensive than buying only in New York, Kansas City, San Francisco and Seattle. And in 10 of the cities where renting was relatively affordable versus ownership, people felt buying may still be a financially sound long-term decision.
Austin Mortgage Market Update – For the week of December 5, 2011
Austin Mortgage Market Update - For the week of December 5, 2011 - Enough people were motivated to buy new homes in October to push monthly sales up 1.3% to a 307,000 annual rate. Even better, the motivation was strong enough to send the median price to $212,300, UP 4% over a year ago. Going forward, what should motivate everyone is that the supply of new homes fell to 6.3 months. Nonetheless, new home sales need to get to an annual rate around 950,000 and some observers say that will take another few years.