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Lake Travis Real Estate News

U.S. Real Estate Overview

Note: December 2018 data below are the most recent released by the National Association of Realtors.

After two consecutive months of increases, existing-home sales declined in the month of December, according to the National Association of Realtors®. None of the four major U.S. regions saw a gain in sales activity last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) decreased 6.4 percent from November to a seasonally adjusted rate of 4.99 million in December. Sales are now down 10.3 percent from a year ago (5.56 million in December 2017).


National Association of Realtors December 2018 DataNAR's chief economist, Lawrence Yun says current housing numbers are partly a result of higher interest rates during much of 2018. “The housing market is obviously very sensitive to mortgage rates. Softer sales in December reflected consumer search processes and contract signing activity in previous months when mortgage rates were higher than today. Now, with mortgage rates lower, some revival in home sales is expected going into spring.”

The median existing-home price for all housing types in December was $253,600, up 2.9 percent from December 2017 ($246,500). December’s price increase marks the 82nd straight month of year-over-year gains.

Total housing inventory at the end of December decreased to 1.55 million, down from 1.74 million existing homes available for sale in November, but represents an increase from 1.46 million a year ago. Unsold inventory is at a 3.7-month supply at the current sales pace, down from 3.9 last month and up from 3.2 months a year ago.

Properties typically stayed on the market for 46 days in December, up from 42 days in November and 40 days a year ago. Thirty-nine percent of homes sold in December were on the market for less than a month.

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 4.64 percent in December from 4.87 percent in November. The average commitment rate for all of 2017 was 3.99 percent.

First-time buyers were responsible for 32 percent of sales in December, down from last month (33 percent), but the same as a year ago.

The Best Mortgage

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today.

Take advantage of our experience! Contact us for a list of preferred mortgage professionals in our area -- pros we know will serve your interests well. Our experience can really help when it comes to finding the right mortgage professional and then getting the right mortgage for your situation.

Upcoming Events in Lake Travis & Austin

One of the many great reasons to own a home in Lake Travis or Austin is all the great ways to have fun. The Austin area is host to many great events that celebrate the culture and flavor of Austin. Here's a few upcoming events in the Austin area that are sure to bring excitement to your life.

Carnaval Brasileiro
2/9/19 | Emo's

Carnaval in Austin is one of the biggest Brazilian Carnaval celebrations outside Brazil. Brasileiro-style samba, costumes and wild abandon can all be seen in the heart of Texas. 
 

Austin Marathon & Half Marathon
2/17/19 | Downtown Austin

One of the country's premier races attracts nearly 20,000 participants from around the world. Events surrounding the marathon include a 5K, live music, finish line festival and beer garden.


Austin Oyster Festival
2/23/19 | Republic Square

This is one tasty festival you don’t want to miss! The Oyster Festival is an annual hit among locals and visitors alike. Not sure which kind of oyster you prefer? Try ‘em all while enjoying a little live Cajun and “newgrass” music on the lawn!
 

SXSW® Music, Film and Interactive Conference and Festival
3/8/19 - 3/17/19 | Various Locations

Austin Convention Center and more than 50 venues host noted filmmakers, musicians, and multimedia artists from around the world converge to showcase music, film and interactive media during this internationally-recognized event.

Rodeo Austin
3/16/19 - 3/30/19 | Travis County Expo Center

Over the years, Rodeo Austin has grown from a show featuring 16 animals into one of Austin's premier events, featuring Pro rodeo events, daily concerts, livestock show and more. 

St. Patrick's Day Festival
3/17/19 | Jourdan-Bachman Pioneer Farms

This annual family-friendly festival celebrates all things Irish. Come enjoy authentic Celtic music and dancers, Irish language workshops, the finest Irish imports and plenty of good craic!

Check back on our blog twice a week for more real estate news, ideas, and local events in Austin and Lake Travis. You can search for the perfect home on our website using our powerful home search tools. You can also get free listing alerts of homes as they hit the market at WelcomeToLakeTravis.com. And you can always feel free to call us at 512-657-4467​ to talk to an experienced agent today.