Home demand is high in Central Texas, and it’ll keep affecting prices.
A lot of people in the Central Texas area have been wondering where home prices are going. Though we can’t see into the future, there are a few key indicators we can look at to get an idea of how things may change.
First of all, lumber prices have dropped from an all-time high of around $1,600 to under $1,000. This could help home prices stabilize a bit, but buyer demand is so high and so pent-up that prices probably won’t drop anytime soon. Buyers just keep pouring into the market, and not enough new homes are coming onto the market or being built to satisfy demand.
Until the demand is satisfied or these buyers find alternatives other than homeownership, prices will remain high. In fact, it’s likely that they’re going to keep rising. The best-case scenario is that things stabilize in the Central Texas area. Additionally, many people throughout the country are trying to move to Texas, which is pushing demand even higher. It’s one of the most popular places to move to, especially the growing Austin metroplex area. Many homeowners are still waiting to sell until prices rise more, which is also contributing to the low-inventory situation.
“Whether you’re thinking about buying or selling, now is a fantastic time to jump into the market.”
We’re stabilized by our job market, government locations, and universities, so we don’t expect to see any sort of drop in home prices in the near future. Instead, prices will continue to grow or at least even out in Central Texas.
Whether you’re thinking about buying or selling, now is a fantastic time to jump into the market. Feel free to reach out to me if you have any questions or would like to know more about the buying or selling processes. Until then, I look forward to hearing from you soon.