Homebuyers regain some power in Austin as inventory continues to climb
Posted by Grossman & Jones Group on
Homebuyers continue to gain negotiating power in the Austin area, a welcome change of pace in a market that has been defined for much of the past two years by blistering conditions.
The latest numbers from the Austin Board of Realtors convey good — or at least better — news for this home-starved market and people struggling to find a home. They also signal a comforting trend that would help Austin avoid a housing crash after years of phenomenal appreciation.
Housing inventory increased in July for the second straight month, to 2.7 months for the region and 2.4 months for Austin city limits, according to ABOR. Instead of a summer outlier, this now seems to point to a trend of decreasing demand, especially in light of rising mortgage rates,…
254 Views, 0 Comments