Friday, December 16, 2022 / by Sarah Thompson
Reasons to Sell This Season
Supply is Still Low
While the number of homes on the market has increased, inventory is still low overall. The Real Estate Center at Texas A&M has established that a balanced market is when inventory reaches 6.5 months. The data provided by The Austin Board Of REALTORS® is compiled in the graphic below from 2020-November 2022. As can be seen, the Austin-Round Rock service area has just over 3 months of inventory. What does this mean? It means that if no other homes were to come on the market, there would be no more available homes after 3.1 months (based on November numbers). This is less than half of number that The Real Estate Center indicates would lead to a balanced market.
Serious Buyers Are Out Looking
While buyer demand has moderated from the high levels we saw in 2021 and earlier in 2022, there are still buyers searching for their first/next home. Many are hoping to avoid falling into the rental trap for another year as rental rates have risen to high levels. Buyers also are no longer having to rush into a home and are able to search for a home that meets their needs in the current Austin market.