You guessed it, the Austin housing market is expected to have another record year in 2017. A combination of job growth, consumer confidence, and demand for housing are all driving factors. As a property manager in Austin, we have seen a little bit of a slow down in the rental market and some of our tenants are actually becoming home owners. I think the other factor that some analysists are not factoring into this home buying drive is the increase in rental rates. According to RentBits the average 3 bedroom house in Austin is leasing for a little over $2000/mo. At that price, many people are considering buying instead of leasing. However, as an investor myself I’m glad Austin is not in the top 10 most expensive rental markets like reported by Apartment lists. Unfortunately, its a catch 22 for investors that are still hungry for more cash flowing properties. If the housing market stays strong that means prices will continue to increase and sadly cash flows will diminish. I think it would be a good thing to have a little adjustment in the market but at this point I’m not complaining.
Outlook for Austin Housing Market 2017
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 ®