The September 2018 Real Estate News Roundup

The September 2018 Real Estate News Roundup

Austin home sales are hot, but things are a bit cooler when you look at national home sales. That was one of the big takeaways from September’s real estate news.

The slowdown on the national level is likely tied to a lack of affordable homes and modest increases to mortgage rates. But new home sales have been trending upward recently, with a 4.5 percent increase logged in August.

Statistics aside, we also found a few interesting stories, including one about the most expensive real estate development in U.S. history and another that will show what it’s like inside the home of Austin celebrities Andy Roddick and Brooklyn Decker.

Learn about that and more in our September real estate news roundup.

U.S. Home Sales Decline

Austin area home sales may be on the climb, but nationally, in August, the pace of sales stalled, according to the latest data from The National Association of Realtors. The 1.5 percent decrease in sales of existing homes was the fourth time in five months that home sales declined. Much of the slowdown can be blamed on rising prices. The median sale price in August was $264,800, marking a 4.6 percent increase year-over-year. Economists who chatted with the Wall Street Journal said a lack of housing inventory also played a role.

New Home Sales Bounce Back

The pace of sales for newly-built single-family homes has increased slightly after a couple months of sluggish performance. Reuters reports that new Commerce Department figures show new home sales climbed 4.5 percent in August. The slight uptick wasn’t enough to reverse a slowing trend overall. Rising mortgage rates are also likely playing a role in the new home market.

The U.S.’s Most Expensive Real Estate Development

Ever wonder what $25 billion might get you if you spent it all on real estate? Well, one option would be Hudson Yards. It’s the most expensive real estate development on the books with its $25 billion price tag. It’s still under construction, but you can get a look at some of the futuristic architecture in this piece by Business Insider.

Austin Voters to Decide on Bond Issue

The November midterm elections will have a lot of names on the ballot. But, for Austinites, there will also be a $925 million question. The bond issue would channel $250 million toward affordable housing, $160 million for transportation maintenance, $128 million for culture spaces and libraries, $149 million for parks, $184 million for flood protection and the rest going mostly to health services and public safety, according to Community Impact News.

Andy Roddick is Serving Up His Home

Tennis star Andy Roddick and his wife, Brooklyn Decker, put their West Austin home on the market. It’s a beautiful-looking 7,376-square-foot pad with Hill Country views, according to the Austin Business Journal. It’s assessed value is $2.3 million, but it’s listed at $5.95 million. It has a wine cellar, copper soaking tub and a lovely pool.

Buy a Texas Lake?

Yes, you can buy a lake in Texas. But it will set you back about $25 million. The Dallas Business Journal reports that Valley Lake Ranch, outside of Sherman, comes with a 1,100-surface acre lake. It’s manmade, like most Texas lakes, and it’s up to 28 feet deep in parts, which make it good for fishing and water sports. Looks like an outdoors-person’s dream.