Luxe Austin Homes - inventory

"January housing report: Central Austin home prices trend downward, housing inventory increases"

Community Impact writes, "home prices are continuing to trend downward, and housing inventory is on a steady uptick in Central Austin, according to Austin Board of Realtors January report.

In January, median home prices in Central Austin decreased 0.2% to $680,000 in Central Austin.

This trend was reflected throughout the Austin-Round Rock area, where median home prices decreased 6.3% to $450,000, the largest drop since July 2011, according to ABoR.

ABoR President Ashley Jackson said that while the market is cooling within the Austin region, surrounding Central Texas cities are seeing an uptick in home prices.

“Outlying areas like Caldwell and Hays counties are the most affordable pockets in Central Texas. When we have a city like Austin challenged by…

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"Is Austin housing hot or not? Prices are sliding but buyers, sellers cautiously test waters"

Austin Business Journal writes, "despite chilly forecasts from the likes of Zillow and Goldman Sachs, others expect the heat to stay elevated in Austin’s housing market — by at least one measure, it's still among the hottest in the country.

Austin tied with Durham, North Carolina for third place in the U.S. News & World Report’s latest Housing Market Index, released Feb. 14. Raleigh, North Carolina ranked first and Denver ranked second.

The index takes into account data on employment, housing prices, builder sentiment and much more.

Austin ranked No. 4 in the supply sub-index, which included government data on housing supply, rental vacancy rates, construction costs, construction jobs, builder sentiment from the National Association of Home…

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"Seller’s Market, Buyer’s Market, ‘Nobody’s Market’? The Weird State of Housing Right Now"

Realtor.com writes, "today’s housing market has everyone wondering: Is it still a seller’s market, or has the power dynamic finally shifted in favor of buyers?

Try neither.

Uncertainty about the future of inflation, the economy, mortgage rates, and more have seized up the market—and wrenched power away from buyers and sellers alike.

“Today, real estate is ‘nobody’s market,'” notes Realtor.com® Chief Economist Danielle Hale in her analysis of housing data for the week ending Feb. 4. “The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to climb, reflecting still-hesitant buyers.”

We’ll break down what the latest real estate statistics mean for homebuyers and sellers in this latest installment…

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"Here’s what’s happening with home prices as mortgage rates fall"

CNBC reports, "the U.S. housing market cooled off pretty dramatically last year, after mortgage rates more than doubled from historic lows. Home prices, however, have been stickier.

Prices began falling last June, but are still higher than they were a year ago. Now, as demand appears to be coming back into the market, due to a slight drop in mortgage rates, prices are pushing back.

In December, the latest read, U.S. home prices were 6.9% higher year over year, according to CoreLogic. That was the lowest annual appreciation rate since the late summer of 2020. Last April, annual price appreciation hit a high of 20%.

Falling home prices were reflecting weaker housing demand, as inflation, job cuts and uncertainty in the economy piled onto the…

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"Austin housing market more stable after cooling 2022 demand, report finds"

CultureMap Austin writes, "In a slightly contradictory year, the 2022 Central Texas housing market saw both higher barriers to affordability and a shift toward buyers.

According to the Austin Board of Realtors' last monthly report of 2022 and year-end overview, inventory rose, but so did interest rates and construction costs. Prices rose, too, reaching a new annual record for the Austin-Round Rock MSA at $503,000 (up 11.4 percent). Travis County mirrored the pattern, as median prices increased 10.6 percent to $575,000.

Demand in the MSA lagged while supply stayed the same: New listings stayed steady but 33,547 homes were sold, down 18.3 percent from the previous year, and they generally stayed on the market for 31 days, 11 days longer. This was…

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"A Tale of 2 Housing Markets: Why Some Homes Still Cause Heated Bidding Wars While Others Sit Unsold"

Realtor.com shares, "homebuyers who are closely watching the correction in the real estate market might believe now is a good time to pounce. After all, homes are sitting on the market for longer, those maddening bidding wars have dried up, and wild offers over the asking price are things of the past, right?

Well, not exactly. It all depends on what they’re hoping to purchase.

Those searching for a home are seeing plenty of fixer-uppers, homes lacking curb appeal, and those in less desirable areas sitting on the market for longer and undergoing price reductions. But well-appointed, well-situated turnkey homes are still selling fast, often receiving multiple offers, and even selling over the asking price. It’s as if the housing slowdown hasn’t…

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"Builders Are Slowing Down New Construction Despite the Housing Shortage. What Gives?"

Realtor.com reports, "the nation might be in the clutches of a dire housing shortage, but builders won’t be putting up enough new homes this year to make much of a dent.

Housing starts, which is when construction has begun but not yet completed, are expected to fall to about 744,000 single-family homes in 2023 as builders continue to pull back, according to the National Association of Home Builders forecast. That’s down about 12% from last year.

However, NAHB expects new construction will rebound in the second half of the year, giving a boost to the overall economy.

“Typically, single-family construction tends to recover before the economy rebounds,” says NAHB Chief Economist Robert Dietz. “By the time we get to the second part of the year,…

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"2023’s Housing Market Is Looking Up: 3 Things That Should Give Homebuyers Real Hope"

Realtor.com writes, "after suffering all-time lows during the COVID-19 pandemic, the supply of homes for sale has rebounded with a bang.

January marked a whopping 65% more real estate listings than this same month a year earlier, according to a recent inventory report from Realtor.com®.

And while home prices are still up year over year, they’ve declined from the pandemic peak. January’s median home list price clocked in at $400,000—holding steady since December but much lower than June’s record high of $449,000.

In addition to this deluge of homes for sale at more reasonable prices, mortgage rates are also down from their 20-year high, which broke 7% in November. For the week ending Jan. 26, Freddie Mac found that rates for a 30-year…

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"2022 was another record year for Austin-area housing but recent inventory rise provides 'breathing room'"

Austin Business Journal writes, "the Austin metro housing market set another sale price record in 2022 — but prices ended the year trending down, another sign of continued cooling and a possible return to more normal conditions.

The average median sale price of a home was $503,000 last year, an 11% increase from 2021, according to the latest data from the Austin Board of Realtors.

However, after peaking at $550,000 in April and May, prices have been steadily retreating — hitting $457,426 in December, a 3% year-over-year decrease and nearly $100,000 less than in the spring.

Some of that decline is likely tied to the time of year, as home sales typically slow in the winter months. But even that seasonality would be a welcome return after a…

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"Homes in Austin metro are taking longer to sell than they have in more than a decade"

KXAN reports, "the Austin housing market has “shifted and started to rebalance,” with homes now spending an average of more than two months on the market.

The Austin Board of Realtors President Ashley Jackson made the comments in the December edition of the board’s monthly housing market report, released Wednesday.

“December tells us a lot about how the market has shifted and started to rebalance as there was a sales price drop and a staggering increase in how long homes take to sell,” Jackson said.

Homes that sold in December spent an average of 73 days on the market, almost triple the average from a year ago. The average is the highest since March 2012 — almost 11 years ago — when homes took on average 83 days to sell, according to ABoR…

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