Boosted Interest Rates Won’t Impact Central TX
The boost in interest rates could have an impact on the Central Texas housing market. Or not. Experts point out that the impact will be small, because the market remains strong. Though higher-end housing sales have dragged, the sales volume and prices of average single-family houses are higher.
As long as the unemployment rate remains low, jobs continue to be generated and people keep moving to Central Texas, housing prices and sales volume will continue increasing, according to Aaron Farmer, president of the Austin Board of Realtors. He told CBS’ Austin affiliate that a higher interest rate will have only a short-term impact, as the rates remain at historic lows.
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