Jan 132020
 

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By G. Steven Bray

A survey of 110 economists and real estate experts conducted by Pulsenomics and Zillow forecasts that Austin has the best chance of all major metros to see above-average home price growth this year. Dallas and San Antonio also ranked in the top 10. According to the survey, home prices will grow an average 2.8% this year, but markets in the South are expected to outperform others.

Austin received a likely-to-outperform score of 76 (out of 100). The next closest metro was Charlotte with a score of 59. 83% of respondents said Austin will outperform the average with only 7% saying it will under-perform. (I think those 7% live in a cave somewhere.)

Dallas placed 5th on the list with a score of 34, and San Antonio placed 8th with a score of 32. A positive score means more respondents think the metro will outpeform than under-perform.

So, what does this mean if you’re planning to shop for a home this year? It most likely means higher home prices. Austin’s current inventory of homes for sale is less than 2 months. (Experts say 6 months is a balanced market.) Dallas is under 3 months, and San Antonio is less than 6 months. As the homebuying season ramps up, you can expect a lot of competition for the home of your dreams.

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