I recently had the pleasure of hearing Mark Dotzour, lead economist for the Real Estate Center at Texas A&M, present his perspective on our local real estate economy here in the Austin metro area. In un-Dotzour-like manner, he remained bullish on our area, although I did note the plateau effect he was seeing in residential market volume. He didn’t have a read on the exact “why”: household debt service is at an all-time low, the Austin area is leading the nation in job growth, etc. Maybe the reason for the plateau is the bond market or it could be builder bottleneck. What is happening remains hyper local, as just last week I had an off-market client receive an offer $62,000 above what we closed escrow on eight months ago when I represented them as buyers. How do you like them apples? W O W! They were certainly happy with that investment advice.
On other fronts, I am seeing continued momentum with our team — receiving many referrals — and last week five happy buyers and sellers into escrow. Our gratitude…lots of it.