ATX Today writes, "Predictable, steady, opportunity. Those are the words Unlock MLS Housing Economist Dr. Clare Knapp used to describe Austin’s housing market this year at the Austin Board of Realtors Headquarters today.
If you’re looking to buy or sell a home in the Capital City in 2025, here’s what to expect.
1. Predictable mortgage rates
Knapp said mortgage rates will likely stay in the 6% range during the first half of the year and might dip into the 5% range later in 2025.
2. Consistent home prices + sales
Active listings in Austin were up by nearly 15% in 2024, and Knapp said healthy inventory is expected to carry over into 2025. Home sales and prices will probably remain flat, but Knapp emphasized that prospects may still be hesitant to buy in 2025 if sellers aren’t willing to reduce listing prices.
“If sellers are really willing to meaningfully adjust their pricing expectations, we could see sales increase more,” Knapp said.
3. More opportunities for buyers
Knapp also noted that recently increased inventory in Austin’s housing market gives buyers more options at various price points.
“I think 2025 is also going to be a year in which we see more options (and) more inventory available to buyers,” Knapp said. “I don’t think we’re necessarily going to see the same level of growth ... as we did in 2024, but I think we’re going to relatively maintain our level of inventory in 2025.”
4. Stability within the market
Knapp said Austinites can use this pattern of balance and reliability to make more informed decisions around buying and selling this year.
“2025 really will be a year in the Austin housing market that is defined by stability ... predictable levels of inventory, relatively consistent mortgage rates, (and) consistent expectations around year-over-year changes to home sales and prices,” Knapp said."
Source: ATX Today
Written by: Morgan O'Neal
Published: February 3, 2025
Posted by Grossman & Jones Group on
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