Yes, You should buy now: The 2020 Austin real estate report

Predicting the 2020 Real Estate market is not easy; by analyzing the data trends based on several factors, we can get pretty accurate estimations.

Housing Market Trends 2020

Most analysts agree that the Austin Real Estate market should see a continuation of the momentum which has been building for the past ten years. The foundation for this momentum is strong with Austin's unprecedented growth, higher household incomes, and overall high consumer confidence. Additionally, Millennials are entering the housing market than ever. The Austin market is seeing a record number of potential homebuyers.

In 2019, Austin's median home price increased by 5.3% to $395,000 compared to the previous year. During the same period, sales rose by 1.8% to 9,572 homes, and sales dollar volume grew 6.9% to $4,678,400,967. In December, the median home price increased 8% year over year to $405,093, and sales increased 8.9% year over year to 738 home sales. Austin's monthly housing inventory decreased in December from 0.5 months to 0.9 months of inventory. Austin's unprecedented population growth during the past decade has profoundly impacted the real estate market. Compared to 2010, home sales in 2019 increased by 84%," Romeo Manzanilla, 2020 ABoR president said. "That type of exponential growth has put enormous pressure on the market, raising the median home price" As we look forward to this year, the market is not showing signs of slowing down anytime soon."

Housing Stocks

More and more investors realize the value of adding Austin real estate to their portfolios. To diversify their investments, investors are also turning to REITs(Real Estate Investment Trusts) REITs provide stability as well as liquidity, making them very popular for most investors. Historically, REITs consisted of commercial properties, but lately, we are seeing many funds are adding smaller homes to their portfolios.

Big Picture for Buyers

Yes, Austin is continuing the trend of record-high demand while Austin home inventory is at a record low, but this shouldn't stop you from buying. The Austin homebuyers can still find an excellent selection of homes in cool neighborhoods from which to choose.