It doesn't take very long for any new investor to realize that Austin's real estate market is still very hot. Investors from California, Nevada, Florida and other states are cashing out of their previous purchases and coming to Texas. A recent article in the Austin American Statesman said, "The number of existing single-family homes sold in February jumped 15 percent from the previous year as strong job growth continues to bring more buyers to the area." In my real estate experience, Central Austin and lake areas are still extremely hot due to their proximity to businesses and shopping.
Investors aren't the only group purchasing Central Texas properties. Retiring Baby Boomers are looking for second homes or permanent residences in our warm and friendly climate. Newcomers from Maryland, Virginia and other Northern States are setting their sites areas like Austin and Dallas.
While increased home prices can be good news for seller and landlords, buyers need to act fast if they want to avoid being too late in the real estate rush.
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