2024 is shaping up to be a big year for central Texas. With significant corporate expansion and a million other great reasons to live here, there are nearly 200 people per day moving to the Austin metro area. Studies predict the Austin/San Antonio corridor will not only rival but surpass Dallas/Fort Worth in the next 15 years.
But what does that mean for current Austinites?
Zillow has recently changed its forecast for housing prices, predicting higher prices for the calendar year. And with demand continuing to outpace inventory, it will be a sellers’ market for the foreseeable future. Thankfully, with a strong economy, buyers are well resourced to purchase.
Nevertheless, with over 40% of homeowners now owning their homes free and clear, many are reticent to sell. Many are realizing that remodeling and additions can be a wonderful way to upgrade without moving. Typical remodels can run the gamut from low dollar smart home upgrades to full additions, with costs climbing to a hefty $100,000 or more.
So how do you decide with so many different considerations? It’s an election year, the Federal Reserve may or may not lower interest rates, the economy seems strong…who’s to tell when and where to buy or sell?
The Intelligent Real Estate team knows Austin inside and out and would love to be a part of your decision making team. We stay abreast of every twist and turn in the market, from the influx of people to the newest corporate expansions, pricing, and interest rates.
There are a lot of questions right now, but one thing is certain: 2024 will be a big year for Texas. Let it be a big year for you!
