Many experts are predicting that the investment and rental market in Austin will continue to be strong in 2016. Even though Texas, as a state, is feeling the pressures of declining oil prices, Austin and Dallas are not affected as much as Houston. Austin’s continued growth is due to the tech industry and its job growth over the last several years. With Facebook and Google leading the way both Apple and Oracle have now jumped on board and started building 30+ acre campuses. Experts are predicting a 10% increase in home sales this year and a 5% increase in medium home prices. Millennials will be the driving demographic for Austin home building. If builders can acquire land cheap enough and build houses that are affordable and attractive to millennials then sales should stay strong. The rental market isn’t seeing a slow down either and many in this demographic will continue to rent instead of buy. Looking forward to another strong rental and housing market in Austin in 2016!
Investment and Rental market in Austin 2016
About the Author: Brent
Brent Bockholt is the Co-Owner of Austin Property Team (APT) and is in charge of the overall operations and business development. He is an active member of the Austin Board of Realtor (ABOR), the National Association of Residential Property Managers (NARPM) and a licensed Realtor ®