Mark Sprague Sees 6% Rates Normalizing Central Texas Housing as Austin Prices Bottom Later in 2026
Updated
Updated · Community Impact · May 19
Mark Sprague Sees 6% Rates Normalizing Central Texas Housing as Austin Prices Bottom Later in 2026
1 articles · Updated · Community Impact · May 19
6% mortgage rates mark a return to a healthier, more balanced Central Texas housing market, Mark Sprague told a Round Rock Chamber audience, arguing the post-COVID 3% era was an unsustainable distortion.
Round Rock home sales are already rising year over year, and Sprague said wage growth is outpacing home-price gains, shifting conditions toward buyers and supporting affordability-driven job growth in Texas.
Later in 2026, Austin-area home prices are likely to find a bottom, he said, with rents then posting moderate increases as the market settles into more historical norms.
Suburban commercial real estate could also pick up, bringing fresh demand for apartments and high-end office space, while rural land is drawing developers tied to data-center expansion.
Those projects can boost city tax bases through expensive equipment, Sprague said, but they also sharpen questions over utility capacity, road access and water use.
With Austin's rents plummeting from oversupply, why does an expert predict imminent increases and a surge in apartment demand?
As global conflict pushes mortgage rates higher, is the Texas housing market's 'healthy' normalization at risk of stalling?
Data centers promise a tax boom for rural Texas, but what is the hidden cost to local water and power resources?