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 ...

If you’re trying to decide whether or not to sell your house, recent headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s value, here’s what you really need to know.
 
What’s Really Happening with Home Prices?
It’s possible you’ve seen news stories mentioning a drop in home values or home price depreciation, but it’s important to remember those headlines are designed to make a big impression in just a few words. But what headlines aren’t always great at is painting the full picture.
While home prices are down slightly in the Austin-Round Rock market, it’s also true that home values are up nationally on a year-over-year basis. The graph below uses data from Austin Board of REALTORS® to show the median price of homes in the Austin market from 2020 thru November 2022.
 
As the graph shows, it’s true home price growth has moderate ...

Are you thinking of buying a home? Are you trying to figure out how to juggle your needs, current mortgage rates, home prices, and more to decide if now is the right time to purchase?
There are more homes on the market this year than this time last year. Last year we had less than a month of inventory in the Austin area with a hyper spike in pricing. This year we have approximately 3.2 months of inventory in October, according to the Central Texas Housing Market Report, with a normalization in the market. This increase in inventory is making it easier for buyers to find a home which may help you feel more comfortable in searching for the home of your dreams. Median sales price in the Austin-Round Rock metropolitan area has increased by approximately $24k from last year despite the drop in pricing in recent months.
Inventory increases have been caused by homes staying on the market longer than in the previous year. What has caused this increase? Well, it appears the higher interest ra. ...