Austin’s Residential Market Trails U.S. Trends

I haven’t made time to write for several weeks, but it’s time to tell you things are going in the Austin residential market now that we have two full months of date. You may remember that I wrote in February that while much of the national real estate market was moving beyond the post-2022 downturn, Austin’s experience remained different:

Austin vs. National Real Estate: Recent Insights

The National Association of REALTORS reports today that trends are encouraging across much of the U.S.:

Greater Inventory Brings Home Buyers Back to the Real Estate Market

These infographics from the Austin Board of REALTORS show that we’re still lagging national trends:

Inventory is up, sales are down, pending sales are down, and median prices are down year-over-year across the metropolitan area generally. As I have commented over the past year, we have not yet recovered from the overheated market environment we saw a few years ago.

Looking just at the City of Austin and Travis County you’ll see modest price growth, but trends in other counties generally match the metro area:

I’ll continue to keep you updated as we move toward the traditional Spring-Summer home selling season.