The Austin Board of Realtors released its mid-year housing market report that shows single-family home sales across the Austin-Round Rock MSA increased 2.8 percent year-over-year to 14,958 home sales and median home price rose 6.4 percent year-over-year to $300,000 during the first half of 2017.
The Austin Housing market has changed drastically over the last decade. In June of 2006, the median price of a home in the area was $182,000. Even when the housing crisis began in 2008, the price was still up in Austin. It leveled off statistically for a few years. Then, in 2012, prices started shooting up. Five years later, it’s nearly $100,000 more.
Low interest rates are helping to fuel the housing market’s growth. The national average for a 30-year fixed-rate mortgage was 3.8 percent last week, well below historical norms and down from 4.2 percent at the beginning of the year, according to Freddie Mac.
