Austin Housing Market
According to the Austin Board of REALTORS® the median home price continued to their trend of more stable and sustainable appreciation. The current data indicates the continued return to normal activity, with inventory rising to 3.2 months of inventory, which is half the amount of housing inventory needed for a market to be considered balanced. Homes spent an average of 47 days on market, up 26 days from October 2021.
“Austin’s housing market is still growing, just at a different pace,” Cord Shiflet, 2022 ABoR president, said. “We’re entering the time of year that is historically a quieter time for home sales. With more available inventory than our area has seen in a decade and price growth stabilizing, buyers have more options today than ever before.”
“The desire to live in Central Texas remains high compared to other metropolitan areas in the state. The continued creation of jobs and influx of people moving to Austin coupled with companies relocating to the region place Austin in a unique position to weather any potential [economic] downturn.”
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