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📉 Price Dip Alert & Merger News: Texas’ Real Estate Rundown! 🤝

Austin Archuleta

December 21, 2023

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Here’s what you need to know about Austin Real Estate today:

    • Austin’s housing market braces for a downturn, prices may drop 12%. 🏘️
    • Texas leads U.S. in population growth, adding 473K residents in a year. 📈
    • Aprio and Ridout Barrett merger set to reshape Texas’ business landscape. 🤝
    • Solar panel costs surge amidst Texas’ real estate boom. ☀️

REAL ESTATE MARKET DYNAMICS AND GROWTH

AUSTIN HOUSING MARKET ABOUT TO HIT TURNING POINT

Summary

Austin, Texas, a city that grew rapidly during the height of the COVID-19 pandemic, is predicted to experience a downturn in house prices. With a population growth of 5% between 2020 and 2022, the increased demand for housing drove prices skyward. However, the high prices have caused buyers to hesitate, leading to an oversupply in the market. Current housing inventory is now above pre-pandemic levels, with prices standing at 55% above 2019 prices. Experts predict a 12% reduction in home prices in 2023, with this correction expected to continue into 2024, albeit to a lesser extent. Despite these fluctuations, Austin remains an attractive location for potential migrants.

Why this matters

Understanding the upcoming correction in Austin’s housing market can help readers anticipate market trends, adjust their pricing strategies, and provide valuable advice to their clients considering investments in the Austin real estate market.

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TEXAS ADDED MORE PEOPLE THAN ANY OTHER STATE IN THE PAST YEAR, NEW CENSUS ESTIMATES SHOW

Summary

Texas is leading the nation in population growth, with an increase of 473,453 residents between July 2022 and July 2023, making it the state with the highest population increase in the U.S. This raises the state’s total population to an estimated 30,503,301. While the U.S. Census Bureau is yet to release updated 2023 estimates for counties and cities, figures from 2022 reveal that Austin is among the top five largest cities in Texas.

Why this matters

With Texas, and particularly Austin, experiencing substantial population growth, real estate professionals can anticipate an increased demand for housing and services, providing a ripe opportunity for expansion and business growth.

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Daily Brief, Events, Local News, Stuff to do

Howdy, Austin! Your Ultimate Friday Scoop for May 24, 2024! 🌵

Dive into the heart of Austin with today's scoop: from Lago Vista's ambitious growth plans and the enduring charm of Guero's Taco Bar, to the arrival of a $5 million Crunch Fitness gym spearheaded by Vince Young. Plus, don't miss a beat of the weekend's hottest events and get savvy with real estate insights from Smart Austin Realty. For a closer look at what makes Austin pulse, click through to the full article.

Dive into the heart of Austin with today's scoop: from Lago Vista's ambitious growth plans and the enduring charm of Guero's Taco Bar, to the arrival of a $5 million Crunch Fitness gym spearheaded by Vince Young. Plus, don't miss a beat of the weekend's hottest events and get savvy with real estate insights from Smart Austin Realty. For a closer look at what makes Austin pulse, click through to the full article.
Commercial, Construction, Daily Brief, Developments, Local News, Real Estate & Construction, Residential

Construction & Real Estate Update for May 24 2024

Dive into the heart of Austin's real estate scene with today's roundup, highlighting the city's $1.9 billion plan for a green future, the legal battle shaping the skyline, and the latest in sustainable architecture. Discover how these developments, along with new tech hubs and chic interior makeovers, are transforming Austin, and why the dip in mortgage rates could be your signal to make a move. Click through for an in-depth look at what's driving Austin's real estate market and how it could affect your next big decision.

Dive into the heart of Austin's real estate scene with today's roundup, highlighting the city's $1.9 billion plan for a green future, the legal battle shaping the skyline, and the latest in sustainable architecture. Discover how these developments, along with new tech hubs and chic interior makeovers, are transforming Austin, and why the dip in mortgage rates could be your signal to make a move. Click through for an in-depth look at what's driving Austin's real estate market and how it could affect your next big decision.
Events, Stuff to do

Say Bye-Bye to Bites: How Austin Yards Are Winning the War on Mosquitoes

Discover the scientifically-backed BG-Mosquitaire CO2 trap, a breakthrough in mosquito control technology that's transforming Austin yards into bite-free zones. This highly effective, environmentally friendly solution targets blood-feeding female mosquitoes with precision, significantly reducing mosquito populations and enhancing outdoor enjoyment. Dive into the article to explore how this innovative trap, endorsed by global health organizations, offers a long-term, maintenance-low approach to reclaiming your outdoor space from pesky intruders.

Prompt for DALL·E 3: "Create an engaging digital illustration for an article about the BG-Mosquitaire CO2 trap, a revolutionary mosquito control solution. The setting is a serene backyard in Austin, Texas, with a clear juxtaposition of before and after the use of the trap. On one side, illustrate a family enjoying a barbecue, visibly annoyed by a swarm of mosquitoes under a dim evening light. On the adjacent side, show the same family now peacefully enjoying their outdoor activities in a mosquito-free environment, thanks to the BG-Mosquitaire CO2 trap prominently displayed and working in the background. The trap should be designed to look sleek and eco-friendly, blending harmoniously with the outdoor setting. Include subtle visual cues to Texas, such as a state flag or iconic bluebonnets, to localize the scene. The overall tone should convey relief, satisfaction, and a return to nature's harmony, emphasizing the trap's effectiveness and environmentally responsible design."
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