Happy Thursday

Hope you are all doing well as many get ready to take off to see family or go on holiday trips with schools getting out tomorrow!

This week we have several new reports with some very exciting updates.

The FED held rates again, Whaoo, Merry Christmas, Mortgage rates are falling Now back below 7%

Austin Housing initiative passed which means more homes coming into the city of Austin!

We look at the November stats released today, county by county, by zip code, and area.

BP investor community released their new 2024 State of Real Estate Investing Report.

I wish you all a happy holiday break, We’d love to help you, and appreciate your referrals!

Last week we took a sneak peek at the first look at November stats, well the official stats came out today and confirm that the run of depreciation in the city of Austin has somewhat stabilized and we even saw a slight increase, for the Austin-Round Rock MSA experienced a -8% year-over-year decline not very enjoyable to see, also not surprising.

Of the 5 Counties that make up, the Austin MSA all of them had YOY price declines. Travis County only saw a 1% decline, Williamson and Bastrop Counties both with a --5 % fall, and Hays County leading the way with a 10% drop off in prices, we believe a lot of this is from Builders reducing prices to keep inventory moving and the more Rural areas are the ones being affected the most, especially Southern hays county from San Marcos to Buda.

The boost in year-over-year new and active listings for Buyers and investors is a breath of fresh air, Although the current surge in listings provides some relief, our city should seize the chance to create more housing supply and sustain this positive trend. Which the New Housing initiative is taking a good stab at.

Buyers & Investors

Now's a prime time to seize opportunities. Inventory is up, and prices have taken a dip, creating an excellent environment for those hunting for a deal. Some sellers have stepped back, but those still in the game are motivated and more open to negotiation than a few months ago. With fewer buyers in the mix, you've got a current advantage, but that window may close in the coming months. If you spot a property you like, the current scenario of low competition and heightened seller urgency is on your side.

If your a Seller

Navigating the market during the holidays can be challenging as buyer demand eases off. If selling isn't urgent, set reasonable expectations, understand demand is likely to pick up again in the spring. However, if you need to sale now, pricing becomes crucial for success, keep in Mind the Ave days on Market in 75 for the MSA and 64 in Austin, so don't panic too much if you haven't gotten an offer in the first few weeks, we do like to see 1 to 2 showings a week this time a year when homes are priced right.

THE STATE OF REAL ESTATE INVESTING REPORT

Exciting news! BP just dropped the 2024 State of Real Estate Investing Report, and we couldn't wait to share it with you. The report breaks down the past year's market and dishes out predictions on strategies that'll either skyrocket or flop in 2024.