Here’s a link to a great podcast from the Texas Associate of Realtors that discusses the Quarterly Housing Report for Q4 2013 and the indications it gives us for the housing market in 2014. This is going to be a great year for home sellers.
We have seen a year over year increase state-wide of 7% in sales and 8.5% in price. 2013 year end housing reports show a decline in inventory of 22% to about 3.6 months in Texas. Housing inventory is the number of months that current homes for sale would last if no new homes went on the market. The greater Austin area inventory is an incredible 2 months — almost half the state average. We have shown a 19% increase in sales and a 9% increase in price for 2013. The Austin market is going to be tight this year for buyers and means higher prices and more competition for homes on the market.
After many years of struggles for sellers, the market has really turned around. Those sellers who have been holding off and waiting for prices to recover are in a great position to move in 2014. If you would like more information or a free pricing analysis for your property, please contact me at (512) 413-3554 or email me.