Skip to main content

Housing market may be "softening"

No one is predicting a crash in the housing market yet, but there are signs of a slow-down. Mostly due to raising mortgage rates and a change in the tax law, in my opinion. Realtor.com has a analysis via the link below.

Then there are the smaller cities, like Austin, TX, and Nashville, TN, that burst onto the national scene just a few years ago—poster children for the supercharged housing recovery. Home prices rose to meteoric heights as builders raced to put up new abodes and transplants from even higher-priced metros flooded the cities. At the same time, their populations shot up 18.5% and 10.6% respectively from April 1, 2010, to July 1, 2017, according to U.S. Census data.

And then, despite all the hype, list prices did the unthinkable—they began to fall. Austin is a particular eye-opener: List prices dipped about 3%, to a median of $362,000 in August compared with the previous year, according to our realtor.com analysis. The year before that they dipped 2%. And while median sales prices (what these abodes actually fetched) actually rose4.2% for the year, according to CoreLogic, it's the slowest rate of growth since 2010.

"Home prices have just gone up too fast," ATTOM's Blomquist says of Austin. "It doesn't mean that all of a sudden it's a market that's going to crash. But it does mean there are limits to what people can afford."

Comments

Popular posts from this blog

California: A Model for the Rest of the Country, Part 2

Part 1 here . On Leaving the Golden State Guest Post by NicklethroweR . Posted on the Burning Platform. The fabled Ventura Highway is all that separates my artist loft from the beach where surfing first came to the United States. Both my balcony and front patio face the freeway at about eye level and I could easily smack a tennis ball right on to the ever busy 101. Access to the beach and boardwalk is very important to a Tourist Town such as mine and I can see one underpass from my balcony and another underpass from the patio. Further up the street are two pedestrian bridges. Both have been recently remodeled so that people can not use it to kill themselves by leaping down into traffic. The traffic, just like the spice, must flow and the elites that live here do not like to be inconvenienced as they dart about between Malibu and Santa Barbara. Another feature of living where I live would have to be the homeless, the insane and the drug addicts that wander this particular...

Top Five Consumer Cyber Security FAQs

Business, technology, environmental and economic changes are a part of life, and they are coming faster all the time. All of these changes and advancements can be distracting and make us more vulnerable to cyber scams. That's why protecting your credit is a critical part of protecting yourself from cyber security threats. Security researchers have reported that hackers and scammers are using any opportunity or vulnerability to target both individuals and companies. You may have already seen these attempts in the form of fake emails or calls. Here are the top five questions Equifax ®  has received about how individuals can protect themselves from cyber security threats and help to improve your credit protection. 1. How can I better protect my credit? Check your credit reports frequently. You can get free credit reports from the nationwide credit reporting agencies (Equifax, Experian ®  and TransUnion ® ) at annualcreditreport.com. Check your credit reports frequently to closely...

School Choice Passed by Texas Senate

The Texas Senate on Thursday approved a $500 million school choice bill mostly along party lines after hours of passionate debate. It will now head for consideration in the House, where members rejected similar proposals during the regular session. Senators passed Senate Bill 1 by a 18-13 vote, with one Republican joining all Democrats in voting against the measure. The bill will likely face steep resistance in the House, where Democratic members and many rural Republicans have vehemently opposed such proposals. School choice programs, also called education savings accounts or vouchers, use public money to help pay for a child’s private schooling. “We must recognize that a one-size-fits-all approach doesn't fit the needs of our diverse student population,” said Sen. Brandon Creighton, R-Conroe, who authored SB 1 and estimated the proposal could serve about 60,000 students. Texas has about 5.5 million children in public schools. Public schools have failed the American people, especi...