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Second Quarter Report (June 30)
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In the 1990s, Dr. Stephen Phyrr, then a professor and real estate investor in Austin, published a landmark article titled Austin's Persistent Real Estate Cycle. In it, he charted the rise, fall and recovery of Austin's real estate market going back to the 1970s, and predicted the market's pattern of 7-10 year cycles - from boom to bust to robust.
His forecast proved prescient. Austin's history since then has reflected that pattern again and again: rapid growth, overheated prices, correction, stabilization, and rebound.
Real estate moves in cycles, and Austin has a rhythm of its own. I’ve tracked local market trends for over two decades, and I regularly compile key data points to give my clients historical perspective.
Below, you’ll find snapshots of annual appreciation, average sales price, and market dips and recoveries.

Over the past 20 years, the average annual price appreciation in the Austin MSA has hovered around 5-6%, significantly outpacing the national average. While there have been bumps along the way, the long-term trajectory is up.
In the 1990s, Dr. Stephen Phyrr, then a professor and real estate investor in Austin, published a landmark article titled Austin's Persistent Real Estate Cycle. In it, he charted the rise, fall and recovery of Austin's real estate market going back to the 1970s, and predicted the market's pattern of 7-10 year cycles - from boom to bust to robust.
His forecast proved prescient. Austin's history since then has reflected that pattern again and again: rapid growth, overheated prices, correction, stabilization, and rebound.
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