Austin housing prices continue to climb

Austin is no stranger to the top spots of national lists of major cities in recent years, but a new analysis of overheated housing markets across the country puts the Austin/Round Rock area as fourth most likely to experience a housing crisis. The report from 24/7 Wall St. found that local home prices are 62 percent higher now compared to pre-recession peaks nearly 12 years ago. In raw numbers, the report found the current median home price is $302,000, compared to $186,250 in the third quarter of 2007. Those price increases are fueled in no small part by a 32.8 percent population growth, with concerns that the local median household income of $73,800 isn’t keeping pace with housing costs. As a state, Colorado looks most prone for a crisis. Greeley, Colorado, took the survey’s top spot, followed by the Denver/Aurora/Lakewood area in second place and Fort Collins coming in third.