Last Year's Housing Market Was a Wild Ride, especially with lakefront property in Austin!
The US housing market has had a white hot year. Home sales are on track to reach the highest level in 15 years, with an estimated 6 million homes sold in 2021.
But whether you benefited from this surge depended a lot on if you were selling a home or buying one.
Homeowners saw average home prices skyrocket nearly 20% through the third quarter compared to a year ago, according to the Federal Housing Finance Agency. It was the largest annual home price increase in the history of the agency's House Price Index. And, in some hot markets, like Lake Austin, the price increase was double that.
Without a doubt, the housing market was on a wild ride in 2021, and here's what to expect this year.