Austin’s skyrocketing home prices may not last forever, at least according to Arch MI, which asses mortgage credit risks for lenders. The Austin Business Journal reports on the company’s findings.
In the company’s Spring “Housing and Mortgage Market Review”, they say there is a 32 percent chance that Austin’s real estate prices will fall in the next two years. That is considered a “moderate” risk.
Four of the five markets with the top chances of seeing falling home values are in Texas and include Dallas and San Antonio, which have a 42 percent chance, and Houston, with a 38 percent change. Nationally, home prices aren’t likely to fall.
Even though Austin’s real estate prices have been on an upward trend, Arch MI considers the city affordable relative to other markets.