According to the Texas A&M Real Estate Center, Austin has been consistently growing its market for the past 37 years. This answers the very common question today – “Should I buy a home now or is Austin in a housing bubble?”.
Homeowners and potential buyers should be more focused on the biggest reason why Austin housing market in 2017 will still be booming. This also shows why there is a sustained job growth in many industries within the region which resulted in having more new residents.
Job rate in Austin has always been growing over the years and it doesn’t seem to be slowing down anytime soon. The city of Austin recently ranked first in the country in startup business according to a study conducted by the Kauffman Foundation which only proves that there’s a lot of employment within the region. As long as this trend continues, the Austin housing market in 2017 will continue to grow accordingly.
An interesting fact about the booming house sales in Texas is the great amount of home buyers from foreign countries. These sales could potentially drive up the price of homes. The latest report of Texas International Homebuyers states that Texas real estate is increasingly in demand from home buyers around the world to the point where they’re contributing more than $10 billion to the state’s economy.
A significant proportion of buyers are from Asia -the amount of houses sold is now almost equal to the amount of homes purchased by buyers from Latin America. This additional demand could lead to price increases of homes in the Austin housing market in 2017.
You might be asking yourself if should you buy a house in Austin or not. Due to the consistency of job growth and balanced economy through the Austin-Round rock area, it shows that Austin is not in a housing bubble and that the local housing demand isn’t going to slow down anytime soon.
People from other states continue to move in Austin and there is plenty of room to build further out. If you’re thinking of buying a home in Austin, your best bet is to do it soon. The Austin housing market in 2017 is waiting for you.
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