2015 has been a hot market in Austin but according to the latest Realtor.com 2016 Housing Forecast 2016 will yield impressive growth for the local market.
The report states the “In 2016, we expect single-family home sales in the Austin-Round Rock area to increase by 10 percent compared to 2015. Median single family homes prices are expected to increase by 5 %.”
Austin –Round Rock will be the fifth most sought after city from the Millennials (25-34 yrs old) who are predicted to be among the top buyers looking to purchase a home in 2016.
Of course it only makes sense with Austin’s growing population (just went over the 2 million mark) expected sales growth would increase. Compared to 2012 the local labor force and number of households will have increased by 12% by 2016. During the same time frame the unemployment rate decreased by a whopping 36%.
It’s amazing to hear that Austin- area properties last 19 days shorter on the market and listings get 1.6 times more views than the national median.
The overall US market is expected to experience moderate but solid growth in 2016 and Austin-Round Rock will surely mirror the overall trend and most likely be in the lead.
The main contributors to our thriving market forecast will be new home construction coupled with an already flourishing market and the Millennials rushing to make a home purchase!!
As always, Austin real estate information is brought to you as a courtesy by Dorie Dillard of Coldwell Banker United; your NW Austin Real Estate Consultant.
P.S. If you are reading this and have a home to sell in NW Austin I would be happy to help you. I bring high tech touch to home sales and market your home to millions of customers across the internet and right here in Austin. Reach out to me for a free comparable market analysis of your home at 512-346-1799 or dillard@reloaustin.com. I offer you hands on Professional guidance for all your real estate needs.
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       Dorie Dillard is the most frequently hired REALTOR® in the Canyon Creek Subdivision. “YOUR PERFECT PARTNER”
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