Real estate
BY BRITTANY ANDERSON
Housing inventory up in Austin metro
How we got here
ABoR housing economist Claire Losey said in the release that there is still a lack of affordable housing in Austin on top of high mortgage rates, both of which could reflect on current market activity. “While our current market shows signs of health with more housing supply becoming available, they are not necessarily attractive options for first-time homebuyers or those shopping for more affordable homes,” Losey said. “The current inventory level across the [metro] demonstrates that while we’ve seen a steady increase in supply over the past year, many of these homes are not attainable for the average Austin resident.” 2023 ABoR President Ashley Jackson added in the release that it is important for buyers and sellers to understand that the housing market of today is “no longer the housing market of the past few years.”
Housing inventory in the Austin-Round Rock metro hit the highest levels in more than eight years in September, according to the Austin Board of Realtors’ metro data for September. According to ABoR officials in a news release, Travis County and Hays County both had more than four months worth of inventory while Williamson County had slightly more than three months worth. Bastrop County had the highest inventory in the Austin metro with five months worth. Across the Austin-Round Rock metro: • Home sales dropped 18.2%. • Median home prices dropped 4.3%. • Active listings increased by 7.8%.
In Williamson County, year over year:
There were 3.3 months worth of inventory, 0.2 months more than last year.
FOR SALE
Active home listings were down 10.6% with 2,873 listings.
Sales were down 30.3% with 341 homes sold.
The median home price was down 4.3% to $400,000.
SOURCE: AUSTIN BOARD OF REALTORS/COMMUNITY IMPACT
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