"Austin housing market improved over the first 6 months of 2023, despite economic challenges"
Posted by Grossman & Jones Group on
CultureMap Austin reports, "despite economic struggles, lack of housing availability, and affordability woes making up a majority of concerns with the Austin-Round Rock housing market, overall trends have improved through the first half of 2023. The latest Austin Board of Realtors (ABoR) report details a need for more inventory to address rapid population growth.
"Despite a slight uptick in mortgage rates in June, the median sales price rose a modest 2.7 percent from May," said ABoR's housing economist Dr. Clare Losey. "Overall, the moderation in home prices throughout the region over the past year has eased the affordability constraint posed by higher rates, but more work needs to be done across the region and into the future to fully address this…
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