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Tandy on Real Estate
Tandy on Real Estate
The success of The Domain is inspiring a landslide of mixed-use development projects across Austin suburbia. The Domain took the idea of Austin’s original open-air Arboretum model and added in an urban work-life-entertainment experience that has changed the landscape and expectations of North Austin. Its success has city councils’, developers and company headquarters taking a closer look at “suburban appeal” for their multi-million- and billion-dollar mixed-use projects.
Despite the reports of Millennials buying homes, there is an interesting trend happening in our housing market. We have homeowners who are content to stay in their current homes and an aging homebuyer. Let’s take a closer look.
American moves are the lowest on record.
400 years ago, refugees fleeing their home country’s hostile political environment bravely headed west over the Atlantic ocean in search of a better life. They arrived on a rock, unprepared for the challenges that come with moving to a new land: a shortage of food and inadequate shelter.
The average square footage of homes has been on the rise for a decade. We are seeing a shift in this as builders begin to cater more to the first-time homebuyer market. The U.S. Census Bureau reports show that the average new home size is now decreasing.
With the decreased home stock inventory and median single-family home price in Austin rising to $400,500 in August - up 2.7% compared with the same time last year — you might be wondering where to find an affordable place to live in the Central Texas area. It turns out two of the most affordable spots in Texas are right in our own backyard. In statistical comparison, Williamson County presented a median price for a single-family home remaining at $295,000, the same as August 2018.
Last year the number of home sales bought by investors was at a two-decade high. Interestingly, this growth was not from large institutional investors according to CoreLogic, but by small investors getting into the real estate investment game purchasing starter homes.
Texas leads the nation in energy production. Across every part of the great state of Texas there is energy potential and production. With the second-largest population and the second-largest economy in the nation after California, second only to Alaska in land area, Texas is not playing second in the energy sector.