Austin-Round Rock home sales up 3.6 percentAustin-Round Rock home sales up 3.6 percenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=191772018-02-16T06:00:00Z2018-02-16T17:00:00Z

​​​AUSTIN – ​​The Austin Board of Realtors' January 2018 Central Texas Housing Market report shows steady increases in single-family home sales despite limited inventory, signaling a strong housing market for 2018.

In the Austin-Round Rock MSA, the median price of single-family homes increased by 3.6 percent year-over-year in January 2018 to $290,000. Home sales increased by 8.5 percent to 1,655 sales, citing continual demand. 

​​Housing inventory of single-family homes stayed at 1.9 months of inventory, the same as last January. These inventory levels remain well below the 6.0-6.5 months of inventory that the Real Estate Center projects for a balanced housing market.

“In 2018, Central Texas’ housing market will continue to see an increase in both sales and price, despite inventory levels remaining low,” said Center Chief Economist Dr. Jim Gaines. “The housing demand and lack of inventory is so great, that if supply does not increase we could see upward of 5​ percent growth in median home prices within the Austin-Round Rock MSA. Inventory will be a determining factor in the direction of this year’s market.”​​

Austin Board of Realtors
Austin-Round Rock
http://www.abor.com/statsjan18/Read more at {Source}

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