AUSTIN (KXAN) — In a contentious election year, it seems nearly impossible to find an issue that unites almost every Texan, but something nearly everyone appears to agree on right now is that the price of housing is a problem.
A survey published recently by the University of Houston and Texas Southern University found that 90% of Texans consider housing affordability as a problem in their part of the state — with 44% considering it to be a big problem and 46% saying it's somewhat of a problem. This came after pollsters talked to 2,257 respondents during the period between June 20 and July 1.
Interestingly, a new report put out by the Austin Board of Realtors (ABOR) shows home sales increasing in areas outside of Austin, as buyers seek out more affordable housing options. The July Central Texas Housing Report found sales rising in Williamson, Hays, Bastrop and Caldwell Counties.
In a news release, Clare Knapp, ABOR's housing economist, wrote, "Consistently high mortgage rates continue to impact buyer’s purchasing power, but July’s increase in sales in four of the five MSA counties shows the strength of Central Texas housing demand,. With rates around 6.5%, only about half of homeowners in our market can afford a median priced home and only about a quarter of renters can afford a starter home. Home prices across the market still need to decrease to meet market conditions and meet buyers where their purchasing power is currently. It is notable that we are seeing more first-time buyers willing to make a move this year compared to last, and that is a positive sign for our market."
Check out a story about these findings tonight on KXAN News at 6 p.m.
