"Zillow says Austin’s housing market is now ‘ice cold,’ Austin Board of Realtors says no way"
Posted by Grossman & Jones Group on
KXAN Austin writes, "just days after the Austin Board of Realtors said the local housing market is starting to “rebalance,” Zillow has released a much harsher outlook: the Austin market is now “ice cold.”
The characterization comes as Zillow released its market report for December 2022.
The report shows homes in the Austin area are spending a median of 68 days on the market, more than in any other major metro nationwide. Back in December 2021, Zillow reported homes in the area were on the market for a median of 22 days.
Another metric in the report shows homes aren’t selling for as much as they used to. In November, just 11% of listings sold for higher than the asking price, down from 47% a year before.
That may be leading some homeowners…
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