MSA housing inventory reaches highest

level in 13 years

In May, the Austin-Round Rock-Georgetown MSA saw a 12.8% decline in closed listings with 4.9 months of available inventory, a level that hasn’t been seen in 13 years. Meanwhile, active listings ticked up 37.7% year-over-year. Because of this increase in available options, buyers have the power to be more selective when purchasing a home.

Clare Losey, Ph.D., “This data demonstrates that buyers can continue to be more selective when searching for a home in their price range. Although it may appear to be a buyer’s market from the outside, it’s important to understand the context behind these statistics, including higher interest rates resulting in a reduction in purchasing power. This market does not offer a clear advantage to either buyers or sellers.”

Kent Redding, 2024 Unlock MLS and ABoR president, “Since the market is no longer as straightforward as it once was, it’s imperative to work with a REALTOR^® to navigate current conditions. Working with a professional who understands the nuances of the market can help sellers list their homes at prices that are in line with the market while helping buyers understand how to find the best possible housing options in their price range.”

You’ll find comprehensive information on the current market stats right here.  Additionally, for more details, feel free to explore www.abor.com.

If you would like to see a comparison to the Market Stats from May 2023, click here.

If you’re curious about markets beyond Austin, take a look at the Corpus Christi market.