On Jan. 7 @recentertx published its annual Texas Housing & Economic Outlook, which forecasts the year ahead in real estate trends for single-family housing, apartments and commercial real estate. 1/x
Interest rates will continue at low levels because of low inflation expectations and the Fed's current monetary policy. The U.S. economy is projected to register slow growth during 1Q2021 & accelerate afterward due to effects of the vaccinations & the stimulus bill. 2/x
The 2021 housing market will be characterized by strong demand w/ low inventories accompanied by positive price growth. Inventories of homes priced under $300k will be especially low, affecting sales in that price range. Price growth will be positive because of stable demand. 3/x
Homebuilders are trying to satisfy demand in the lower price cohorts by building homes in the suburbs or outer city borders where land costs are lower. This trend was prevalent before the pandemic but has accelerated during COVID-19. 4/x
In summary, in 2021, the Center expects:

- overall land prices to increase by 5 percent or more
- the number of sales to increase by 10 percent
- total dollar sales volume to increase by 12 percent
- small properties to sell well. 5/5

#OutlawRealtyAustin #GrantWhittenberger

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