My partner and I have put down the earnest money on a very desirable lot and neighborhood right outside of Austin, in Leander, TX. It “fell” out of the bidding process while we were visiting the builder as the couple lined up to buy it squawked.
We see rent prices rising drastically in the area, and while the forbearance protection is ending soon, we aren’t quite sure how this will effect NEW home sales. Austin is a different “breed” within the home buying market right now — this area is exploding.
Where can one predict this Austin and surrounding Area housing market to be in the next 2-3 years? We are worried if we wait another few, prices will be more absurd than they already are. The flip side of that coin is that prices will drastically plummet in 2-3 years, but it is getting harder and harder to believe that will be the case for this city given the current boomtown we are in. Thoughts?