A Return to Normal?

Inventory increases and residential homes sales activity dips. This paired with a slowing pace of home price growth in June, Austin is returning to a pre-pandemic normalcy.

Austin Board of Realtors President Cord Shiflet writes, “The Austin market is by no means balanced and it still favors sellers, but buyers have more bargaining power now than at any point since before the pandemic. Homes still closed at over 100% of the list price on average last month, but REALTORS® have started seeing lower list prices and therefore sale prices, over the last few weeks.” 

 If you’ve been on the fence about buying a home, you can take advantage of this increased bargaining power and influx of homes on the market. As the fundamentals of our market normalize, buyers and renters need to get their foot in the door, quite literally, and work with their REALTOR® to help them find their next home.

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Home Sales declined 20.3%

Year over year home sales declined to 3,441 and sales dollar volume dropped 9.9% to $2,301,865,479.