"Austin housing market continues to stabilize, fueled by skyrocketing inventory and 'normal' price growth"Posted by Grossman & Jones Group on
According to CultureMap Austin, "For the third month in a row, the Austin Board of Realtors reports that the local housing market is returning to normal. Following the unprecedented price growth experienced in early 2022, the market is shifting back to a normal pace, fueled by skyrocketing inventory and normalized home price appreciation.
The latest monthly report shows that in August 2022, the metro's median home price jumped 5.5 percent year over year, to $496,038. While a record high for the month of August, ABOR says the growth "[indicates] a normalization of home price appreciation that economists say is consistent with historical norms."
In the city of Austin, the median price grew 3.6 percent year over year to $555,000; Travis County's…
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