Texas Real Estate News, Home Prices Rise in Austin, Toyota San Antonio Auto plant in Texas

 

 

 

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BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 510-364-8072 /940-231-3059

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

Sept 2018 Vol 20109 -01

 

Spring Maintenance List

Time to tune in your HVAC

Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system

Check your roof and Gutters 

Clean up your gutters for any fall and winter debris. Check your roof to inspect any missing shingles 

Check your Lawn Watering Schedule 

Time to turn on those sprinklers and check your lawn watering schedules and adjust them

Check for any broken sprinker heads and replace those

Clean up your windows and screen

Time to get those windows and screens dusted up


Supply Demand Imbalance causes home prices to rise in Austin

 

AOB The cost of single-family homes in the metro is rising because of an imbalance between supply and demand. The Austin Board of Realtors (ABoR) recorded 3,189 home sales through the MLS in August 2019, a 5.8 percent increase from last year.

However, while home sales continued increasing, market listings continued to decrease.

Single-family home sales increased 5.8% to 3,189, while the median price was $326,500, a 2% year-over-year increase. New listings decreased 7.1% to 3,457 and active listings decreased 9.3% to 7,074. Inventory stood at 2.7 months.

 

San Antonio Net absorption increases

According to NAI overall vacancy stood at 6.8%, an increase from the 6.2% reported in August 2018. Meanwhile, the 2.3 million square feet of absorption registered was a 2.1 million-square-foot increase from the -203,904 square feet from the year before.

The vacancy rate for Class A properties is at 14.4%, up from 12.0% as of August 2018. Year-to-date net absorption is at 2.3 million sq. ft., up from negative 204,000 sq. ft. year-over-year.

Market Activity Courtesy NAI

Market Activity Courtesy NAI

Texas Housing report

  • 30-year mortgage rates fall at 3.64% as of sept 27 2019.
  • Housing permits on new construction falls due to labor constraints 0.6% QOQ
  • Current median price is at $240,515
  • Months of inventory stands at 3.7
Texas Housing Report

Texas Housing Report

Toyota invests $400M in San Antonio Plant

According to San Antonio Business Journal Toyota Motor Corp will invest $400M in Toyota Manufacturing Texas plan in San Antonio .

The San Antonio Toyota plant, which produces Tundra and Tacoma pickup trucks, employs about 3,200 people.

Texas Economy outlook

According to Wallethub, Texas is the most diverse state trailing behind only California.

Texas Economy Courtesy Texas A&M

Texas Economy Courtesy Texas A&M

San Antonio ranks third for home price growth

According to FHA, U.S. house prices rose in the second quarter of 2019, up 1.0 percent according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).  House prices rose 5.0 percent from the second quarter of 2018 to the second quarter of 2019.  FHFA’s seasonally adjusted monthly index for June was up 0.2 percent from May.

Single-family home prices in San Antonio have increased 8.9 percent over a year ago. The pace of home construction in San Antonio has also reached a 12-year high in the second quarter, according to a Metrostudy report.

New Home construction increased 6.8 percent spike over the same period last year. Other Texas cities included in the top ten overall price growth rankings were Austin (fourth) and El Paso (tenth).

 

Developers of Granite Properties building the largest tower in West Plano

According to Dallas News “This will be the tallest building in Granite Park,” said Will Hendrickson, Granite Properties’ senior managing director. “It will also be the nicest and the most heavily amenitized building we have ever delivered.”

The tower is designed by BOKA Powell and is slated to start in 2020

 

 

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