The Austin real estate market is facing challenges with prices down by about 4.1% year over year, leading to a $24k drop in a $600k house. The market is experiencing a total decline of 18% from its peak, with inventory at record highs.
The downturn in Austin, TXs housing market is remarkable. Inventory has now spiked to the highest level on record. More than 25% higher than the previous, pre-pandemic high. And the listings just keep coming. Values down nearly 20% already and could have another 15% decline… https://t.co/Jb8UOSZG0A
Why Austin home prices remain stubbornly high: While rising inventory and days on market are proof of lower demand, Austin home prices remain stubbornly elevated above 2019 levels. https://t.co/XNrlI43Ani
An April 2024 study has the Austin market ranked No. 87 in the country, with the average house costing $470,662. https://t.co/Y0ZqNqqg5J
Austin Real Estate market continuing to struggle. YoY prices down about 4.1% , so for a $600k house prices have dropped about $24k. Still leading the nation in total decline from peak at 18% down. A lot of downward pressure on pricing even in peak summer. https://t.co/1b35URAETI
Check out what's up — and down — with home sales, prices, supply in Austin area market https://t.co/jeLUmBVKeX