May 2016

There are 6 blog entries for May 2016.

"This April, Austin was the 20th most expensive city to rent inaustin rent graphic the nation. One bedroom units were priced at a median of $1,150 and two bedroom units at $1,500. This city came ahead of Houston, Charlotte, and Nashville in our most recent national rent report." Released Zumper.

Rent in Austin single bedroom has increased by 11% over the previous year and a 9% increase for two bedroom condos/apts. Downtown continues to be the most expensive but you can find affordable rent in Pleasant Valley, near The University of Texas, and North Loop.

See original post on Zumper here.

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Summary

The Texas economy slowed in March in the wake of lower oil prices, a strong U.S. dollar, and a weak global economy. Total employment expanded year-over-year but posted a monthly loss of 12,000 jobs weighed down by the manufacturing and oil and gas extraction sectors, especially in Houston. Housing demand improved moderately while new construction was constrained by a shortage of skilled labor and developed lots. Houston slowed in terms of number of sales. Austin, Dallas, and San Antonio continued to show strong housing demand.

Supply

The Texas Residential Construction Leading Index (RCLI), which signals future directional changes in the residential construction business cycle of single- and multifamily housing, looks to have flattened in

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Single-family home sales increased in the Austin-Round Rock Metropolitan Statistical Area (MSA) in April 2016, highlighting growing urban sprawl as rising housing costs exacerbate affordability challenges, according to the April 2016 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.

“Much of Central Texas’ home sales activity is now taking place outside of Austin’s city limits, with housing demand driving growth in surrounding counties,” said Aaron Farmer, 2016 President of the Austin Board of REALTORS­®. “The City of Austin’s housing market is drastically different than surrounding areas. In Austin, home sales growth is suppressed, inventory is more constrained and home prices are much higher.”

In April 2016,

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Austin-based MileStone Community Builders LLC, one of the largest local homebuilders in Austin, spent nearly $47 million to purchase a prime parcel of land, about 75 acres, owned for years by the Texas Department of Transportation in December of 2014.  

The land sits near 45th street in MoPac expressway minutes from downtown and the University of Texas.  Now almost two years later the land is on its way to being developed as The Grove at Shoal Creek.  The vision set out by the builders is for The Grove at Shoal Creek to include homes, neighborhood businesses, as well as park space. 

As it stands now It will be up to city appointees and politicians to determine whether developer "ARG Bull Creek Ltd." can proceed with its plans to create a dense

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Engel & Völkers Austin will be introducing our third office this Fall in the epicenter of North Austin Rock Rose at the Domain.  This new development is home to some of Austin's favorite local restaurants, entertainment and bars.  Rock Rose will also be host to hundreds of apartments and businesses such as HomeAway.  Backing to the original Domain which is represented by anchor tenants Macy's, Dillard's and Whole Foods, our new office will be at the center of North Austin development!  

For world-travelers, the sight of an E&V shop brings to mind the expectation of high-end service and exceptional real estate.

We are looking for a small, select group of well-qualified agents to join our expanding team in one of the hottest growth communities in

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You've probably heard by now, Lake Travis has completely filled after a rainy April!  It has been over 8 years since Lake Travis has reached 100 percent and as recently as last year the lake was at historic low of around 30 percent full.  Now with the lake in peak form heading into the summer season the Lake Travis region is ready for a big summer!  With local businesses, marina's, and the real estate scene all seeing and expecting a great summer.  

"Central Texas will likely experience average temperatures in May and June as well as above-average rainfall. The high soil moisture from the rain will help keep summer temperatures cooler than they otherwise would be, he explained, even though he expects July and August to be dry and slightly hotter than

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