Historically low interest rates add another variable to housing market
The Austin Board of REALTORS® (ABoR) February 2020 market analysis showed a 6.8% increase in residential home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) and a 12.8% increase in median sales price to $327,140. While sales increased from 2,363 homes in February 2019 to 2,524 homes last month, new listings decreased 11.8% year-over-year, and inventory dropped to 1.5 months of inventory, painting the picture of Austin's historically competitive housing market and high demand. With the impact of COVID-19 beginning to take hold, it's uncertain how social distancing will affect the way the market continues to operate.
“Historically low interest rates are a…
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