One chart tells the story

I have written about our on-going market transition in recent months, and I’ll have more to say in the future. For now, I just want to offer this snapshot of what has happened in the Austin metro residental market this year:

As of September 28, the number of homes sold this month is down about 300 units compared to January, and down abouto 600 units from peak sales in May. We also have 4.4 times as many active listings as we had in February. (February was also the low-point for listing inventory for any month in the 30-plus years of data that I use in my Market Dashboard.)

You have undoubtedly heard or read about the market transition that began in early 2022, but that chart makes it real!