08/11/2026
We keep hearing the same thing…
“I’m waiting for interest rates to come down.”
We get it. Nobody is excited about a 6-something percent rate. But the interest rate is only one part of the equation.
At the peak of the Austin-area market in April 2022, the median home price was $560,000 and the average rate was around 4.98%.
Today, the median price is $440,000 and rates are around 6.69%.
Assuming 5% down on both:
🏠 April 2022: Approximately $2,850/month
🏠 Today: Approximately $2,695/month
That’s principal and interest only, but today’s buyer is also putting about $6,000 less down and purchasing at a much lower price, which should mean lower property taxes too.
And here’s the part people forget…
Back then, buyers were fighting over homes, paying over asking price and covering appraisal gaps. Today, homes are closing around 95% of their original asking price, and many sellers are willing to help with closing costs or an interest-rate buydown.
So yes, the rate is higher. But the house costs $120,000 less, the estimated payment is slightly lower, and buyers have leverage again.
Don’t let one number make the entire decision for you. Let’s run the actual numbers and see what buying today would look like for you.
Real Estate. The Smoove Way. 🔵