The worldwide pandemic this past year brought unemployment, area shutdowns, a further appreciation for our healthcare personnel, and made wearing a mask commonplace. Looking ahead, most experts believe we will slowly return to a new norm. Yes, there will be collateral damage in many areas. However, the housing market will continue to help strengthen the economy.
We already know people are relocating in record numbers and this trend appears to continue well into this year. Two factors for the Texas market are the lower cost of living and the tech industry job market.
While low inventory in the Travis and Williamson county area have plagued homebuyers in recent years, 2020 will see more homes being built. Many out of state buyers may purchase homes sight unseen. Real estate in these areas will see a higher rate of homeownership with continued low-interest rates for well-qualified homebuyers.