Austin Real Estate News August

Austin Real Estate News August 2022

Austin real estate news market data for July showed the housing market continued to trend toward more normal and sustainable levels in July, according to the Austin Board of REALTORS® July 2022 Central Texas Housing Market Report. Median price grew by only 8% year over year to $515,000, a record for the month of July but the first-time home price growth has been in the single digits since June 2020. The
region’s housing inventory reached 2.7 months — the highest level of inventory since November 2018.

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The Housing Market Continues to Simmer

The housing market continues to simmer

Simmering doesn’t mean cooling, it just means it’s not boiling. The best analogy of the real estate housing market for the past 2 years is that it was boiling over, which manifested in the common use of the Addendum concerning the right to terminate due to Lender’s Appraisal, commonly known as ‘the appraisal waiver.’ Continue reading