Austin Business Journal January 20, 2021 8:18am CST “Zillow: No housing market will be hotter than Austin in 2021”
Data based on “The Q4 Zillow Home Price Expectations Survey” corroborated by other measures “projected Austin would be the nation’s top-performing housing market” this year. Median list price up 24% YOY and YOY price up 11.2% at $368,918 (A Record) is evidence that the pandemic has “accelerated trends we saw coming into 2020” rather than having “upended the housing market.” Austin along with other leading RELO locales have been in Sun Belt destinations due to “relatively affordable, family-sized homes, booming economies and sunny weather.” Aided also by, according to Jeff Tucker (Zillow), by “record-low mortgage rates and the increased demand for living space, coupled with a surge of Millennials buying their first homes.” According to Redfin, Austin was their top relocation destination with 10,268 Redfin users, “the largest net inflow among the largest U.S. metros” and San Francisco was the top point-of-origin.
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