Home buying in Austin looks a little different than it did just a few months ago. Austin real estate data is mirroring what I continue to see out in the streets, the market is continuing to settle out. You may be seeing a bit more price decreases on active homes for sale, whether you are looking on my website or any home search feed. As sold data rolls in, comparable homes entering the market may need to adjust listing prices.
Price adjustments are normal. They happen in every market all of the time. Viewers may just be seeing more price decreases than typical right now. As the spikes in the market start to get lower and the inventory starts to increase, market analysis reports will once again become more dependable. Look forward to data that tells a consistent story and is less reactive, with volatile sporadic numbers, which is where the market has been over the last 18 months.
As the wild west becomes tamer, look forward to longer option periods, fewer multiple offers, and rush charges. All of these benefits happen when supply isn’t looking straight up at demand anymore on a graph.
Home buying in Austin might be easier than finding a new car
People are chasing the last few days of summer. The new school season has begun, which means there are new fall schedules to settle into. Buyers have a great opening right now to get out and find a house, while many are looking in other directions. Interest rates are still incredibly low. With the chip shortage, it actually may be easier to find a home to buy right now than a new car.