One big factor could be people selling now to try and keep as much of their appreciation cash as possible. Values shot up from 2020-2022. Values have been falling since. Maybe there are a lot of people selling to cash in and then buy again when the rates drop or they feel the market bottoms out. If you saw your house that you bought in 2018 for $300,000 shoot up to a value of $550,000 I bet it's tempting to want to get that appreciation cash in your pocket. But now it's worth $450,000 based on the comps they used to dispute their property tax bill. Selling now could be $150,000 profit which can be used to buy another property when prices are seemingly a lot lower.
Taxes too high, tech companies laying people off, less jobs available. It's not necessarily less expensive than la/nyc anymore The growth was to much too fast, collapse began It'll level eventually but when is unknown
My neighbor left Lagunas Beach five years ago. She hates Austin, and agrees that realtors who pitched big marketing campaigns in California oversold Austin and Texas. Now, they’re stuck here, although living in a custom home one of the best communities Austin has to offer.
I think people lose sight of why most buy homes. As a "home"....Jobs are the biggest driver of people selling homes and moving...the other topics are just measures to weight and typically not the deciding factor.... If it is .....Money and ability to cash out is just not an issue for those people.
We are Boomers thinking of moving to Austin area because we have two grandchildren there. We are presently in DFW area, which we actually prefer we think. Have you done a recent video on Kyle or Highland Homes? That’s what we are considering.
My friend just moved to Highland homes in Kyle. I think their build quality is very good, wooded and quite neighbor, many retired boomers there as well. However, South of i35 traffic (Kyle to Downtown) is horrible due to the construction.
