Given all that has transpired over the past couple of years in the Austin real estate market, local economists are leaning slightly more conservative in their forecasts for the Austin housing market in 2015.
Hindsight tells us that the real estate market bottomed in 2011. Starting in the Fall of 2012, Austin and other housing markets across the country began the “rebound phase”, which has continued in earnest over the past two years. In Austin, housing market gains have been intense, buoyed by job growth, population growth and subsequent investor/developer interest. Those strong market dynamics have led to a 20-30% increase in local real estate values over the past three years, as demand has consistently outstripped supply.