Austin, TX

Austin home sales and prices expected to drop in 2024 according to new Realtor.com report

Published

12 months ago

December 6, 2023

Austin home sales and prices expected to drop in 2024 according to new Realtor.com report

Soaring home prices in recent years could calm down in 2024 after a report from Realtor.com predicted a drop in both home sales and prices for the Austin-Round Rock Area.

Specifically, the real estate website predicted home sales in the Austin metro area would fall by 11.7%, while prices would fall by 12.2% compared to both of those marks in 2023.

Moreover, across the country, the website predicted median home prices would fall by a much smaller 1.7%. However, it should be noted that larger, and recently more expensive, markets are expected to see bigger drops in price.

How are other Texas housing markets expected to perform in 2024?

While the Austin area is predicted to see the biggest combined decrease in sales and price in Texas in 2024, Houston, San Antonio and Dallas-Fort Worth are all also expected to see those numbers decline.

Realtor.com predicts Houston will have the smallest declines, with a 9.7% decrease in home sales and a 4.5% decrease in price. San Antonio is expected to nearly see double-digit decreases in these categories, with a 10.1% drop expected for home sales and a 9.4% decline expected for price. The Dallas-Fort Worth area is expected to see the biggest drop in sales at 12.9% and an 8.4% drop in price.

What is driving the drop in sales across the country?

When explaining why it feels housing prices will fall in 2024, Realtor.com first explained that home prices have been growing at a double-digit annual clip for most of two years — spanning the second half of 2020 through 2022 — a notable increase after a growing streak that spanned back to 2012.

What does this mean for sellers and buyers?

Starting in May 2022, buying a typical for-sale home listing at the prevailing rate for a 30-year, fixed-rate mortgage with a 20% down payment meant forking over a quarter or more of the typical household paycheck.

According to Realtor.com, in October 2023, it required 39% of the typical household income, and this share is expected to average 36.7% for the full calendar year in 2023.

With buyers and sellers in a stalemate, the firm predicts a record low in home sales for 2024 as prices start to ease. Because of this, Realtor.com expects buyers will look to builders instead of sellers in 2024.

Beck Andrew Salgado covers trending topics in the Austin business ecosystem for the American-Statesman. To share additional tips or insights with Salgado, email Bsalgado@gannett.com.

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Austin, TX

Texas boasts 10 restaurants on OpenTable’s top 100 list for 2024

Published

2 hours ago

November 24, 2024

Press Room

Texas boasts 10 restaurants on OpenTable’s top 100 list for 2024

AUSTIN, Texas — Texas had a strong showing on OpenTable’s 2024 Top 100 Restaurants with 10 establishments making the list.

What You Need To Know

The best foodie city in Texas, at least according to OpenTable, was Austin, with seven restaurants making the list

The rest of Texas’ major metropolitan areas–Houston, Dallas and San Antonio–each only had one restaurant on the list

OpenTable compiles its top 100 list every year by looking at diner reviews from its 14 million verified users

The Lone Star State had the second-most restaurants on the list, tied with Illinois, behind California, which had a whopping 19 restaurants featured.

The best foodie city in Texas, at least according to OpenTable, was Austin, with seven restaurants making the list.

Aba – Austin
J Carver’s
Jeffrey’s Restaurant
Red Ash Italia
Sammie’s Italian
Uchi Austin
Uchiko Austin

The rest of Texas’ major metropolitan areas–Houston, Dallas and San Antonio–each only had one restaurant on the list.

Steak 48 – Houston
Signature – San Antonio
Hudson House – Lovers Lane – Dallas

OpenTable compiles its top 100 list every year by looking at diner reviews from its 14 million verified users.

According to OpenTable’s website, restaurants with enough reviews are automatically considered and are evaluated by their ratings, percentage of five-star reviews, number of alerts set, percentage of reservations made in advance, percentage of capacity and direct searches.

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Austin, TX

‘Superman!’ Jelani McDonald Proves to Be Crucial Piece to Texas Longhorns Defense

Published

11 hours ago

November 24, 2024

Press Room

‘Superman!’ Jelani McDonald Proves to Be Crucial Piece to Texas Longhorns Defense

AUSTIN — Texas defensive back Jelani McDonald made his mark in the Longhorn secondary on Saturday.

McDonald recorded his first career interception, and it was one for the books.

With five minutes left in the first half as Texas led 14-7, Kentucky had possession. The crowd went wild as McDonald dove for the ball to get possession back to the Longhorn offense. Commentators described the play as a “Superman” performance.

WENT FULL SUPERMAN FOR THIS PICK 👀🤯@TexasFootball x 📺 ABC pic.twitter.com/ZV5AxOSWo7
— Southeastern Conference (@SEC) November 23, 2024
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McDonald’s teammates also had their takes on the play.

“Superman…I mean everybody knows how athletic Jelani is, we’ve been talking about that all season, and even tied back to last season,” Michael Taaffe said. “He’s so athletic. I’m glad he finally got to show that and for you all to see, because we’ve known that forever.”

McDonald has totaled 22 tackles this season, playing in every conference and two non-conference games.

While he’s not a name on everyone’s mouths, like Quinn Ewers, Isaiah Bond, Taaffe or Kelvin Banks Jr., McDonald proved once and for all his impact on the team. McDonald could very much have a breakout season in 2025, and this play, which recorded Texas’ 16th interception of the season taking the national record, opened up the doors for his campaign.

That pick could even be awarded play of the year.

“I’ve been just happy to see him grow and get better as a player,” Anthony Hill Jr., who played with McDonald in the Freshman All-American game, said.

“He was playing corners, so I was like ‘Who’s this guy,’ and then one the game, he’s playing linebackers, and at one game he’s playing safety,” Hill said.

McDonald has one more shot to showcase his talent in the regular season as Texas faces Texas A&M next Saturday. But with two years left of eligibility, the sky is the limit.

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Other Texas Longhorns News:

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Austin, TX

No. 3 Texas ends UK’s bowl chances

Published

19 hours ago

November 23, 2024

Press Room

AUSTIN, Tx. (WKYT) – The Kentucky Wildcats (4-7, 1-7 SEC) ended their SEC slate with a 31-14 loss on the road against the No. 3 Texas Longhorns (10-1, 6-1 SEC). For the first time in eight seasons, UK will not be bowl eligible.

Junior quarterback Brock Vandagriff started the game for the Cats, going 3-7 for 51 yards, one touchdown and one interception. The staff opted to once against start true freshman Cutter Boley in the second half. The LCA alum wet 10-18 for 160 yards and an interception in the loss.

The Wildcats went 1-2 in the red zone and just 2-12 on third down conversions.

Senior inside linebacker Jamon Dumas-Johnson had a 25-yard fumble return for a touchdown, and also led the defense in tackles with eight.

Texas junior QB Quinn Ewers went 20-31 for 191 yards and two touchdowns for the Longhorns.

The season concludes next week as Kentucky hosts the Governor’s Cup game against Louisville at Kroger Field. Kick-off is set for noon on the SEC Network.

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