Austin Housing News June 2022

The long-awaited gains in the housing inventory have contributed to slower growth as of late and MARKET STABILIZATION. 

For June of 2022 we saw:

• A triple-digit gain in active listings year-over-year has pushed our inventory to over two months for the first time since November 2019
• A dip in residential sales activity and a slowing pace of home price growth 

All indicators suggest a deceleration in the Austin housing market.  We have been holding our breath for two years.  The June market trends are a breath of fresh air because the past two years have been unsustainable.

The market still favors sellers, but buyers now have more bargaining power. 

Last month:

• Home sales declined 20.3% year-over-year
• The median price rose 13% setting a record of $537,475 
• The number of homes sky-rocketed to 217.8% - causing inventory to jump to 2.1 months.  This is 1.5 months greater than this time last year.
• Pending sales dropped 31.6% (spending an average of 18 days on the market)

So, what does this mean for you?

Sellers, you MUST price your homes accurately from day one.  Work with your real estate agent to set an accurate price for the current market conditions. 

Buyers, it's time to get back in the game!!!  You now have bargaining power and more homes to choose from.  Get your foot in the door!!!

All this to say, there is never a better time to buy than right now.  If you are looking to build equity or invest in your family's future, it is time to talk about buying and what your options are. 

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Interested in more tips, tricks, and strategies? Download a copy of my informative buyer's guide to help walk you through your home buying process.  You can also visit my YouTube Channel for a series of videos about how to go about buying your next home.