AMIDST CHALLENGING ECONOMIC CONDITIONS,
CENTRAL TEXAS HOUSING MARKET CONTINUED
TO NORMALIZE DURING FIRST HALF OF 2023
This month’s Central Texas Housing Summit to shed light on challenges
During the first six months of 2023, the Austin-Round Rock MSA housing market remained robust and continued to normalize despite macroeconomic factors impacting the housing market and economy, according to the Austin Board of REALTORS® Central Texas Housing Market Report.
“For the second year in a row, ABoR is hosting a summit focused on the state of the region’s housing market, the need to prioritize housing and how to enact change for the future,” Ashley Jackson, 2023 ABoR president, said. We are seeing the market normalize after years of record-setting pace, but it is our jo b to help the region’s housing market fundamentally improve so that anyone that wants to buy a home here can find one within their budget.”
Dr. Clare Losey, ABoR housing economist, sees a market that has held steady but still needs increased inventory to house our region’s growing population.
“The diverse and resilient economy that has been built in Central Texas, particularly over the past two decades, is instrumental in helping the region, and our housing market, withstand less than ideal economic conditions. It is important to remember that the market continues to moderate in the wake of unsustainable price growth and sales activity during the pandemic, but remains robust. The ability to buy a home remains the best way to create generational wealth, and that needs to be more accessible to everyone.”
ABoR will offer a holistic view of the housing market, local, state and national economies, and what the future holds for economic development in Central Texas at the Central Texas Housing Summit on July 26.
You can read all the details about the current market stats here.
