07/18/2022
👏🏼The return of Normalcy!!!!
No, the market is not “crashing”
No, the market is not “slowing” Recent data is in fact indicative of pre-pandemic market numbers. Aside from the yearly seasonal shifting that occurs every year after the bustling March-May madness (peak season) our market has a natural “cooling-off” phase. The recent sudden and significant shift in numbers we saw was the result of seasonal change AND the post-pandemic mania dying off. Austin has traditionally appreciated around 12% YOY - unlike the 40-50% YOY we saw last June. (This type of increase is not sustainable in any fashion)
Our absorption rate is back to 2.6 months, avg days on market up to 18, and 13% increase on median home price….
Cheers to having a sustainable market again!
Now is a great time to buy. Interest rates even lowered recently! There’s more inventory to choose from and less buyer competition.
No more over paying and waiving appraisals! (Almost no-more)
Feel free to DM me if you have questions about our real estate market.
Looking to buy a home or sell your home? Call me
📲 (512)289-5953