The Austin real estate market is poised for another strong year, according to 360º Real Estate Analytics Principal Eldon Rude, whose presentation at a Home Builders Association of Greater Austin forum was reported on by the Austin American-Statesman. Rude cited continued growth in population and jobs as primary factors in the expected active market, especially with the expansion and relocation of tech companies. He said prices also are expected to continue to rise in 2018.
According to the Austin Board of REALTORS® December and Year-End 2017 Central Texas Housing Market Report, the median home price in the Austin area reached $299,900 at the end of 2017, another in a string of record-breaking prices. In the city of Austin, median price was even higher at $362,000.
New home construction is expected to increase, said Rude. With 16,000 new homes started in 2017, according to Metrostudy, he expects 17,000 new home starts in 2018. Read more in the Austin American-Statesman.