Austin, TX Housing Market at a Glance February 2023.
General sales activity is down 30% compared to a year ago.
It could be said, "we are back to a normal market."
Fewer buyers are moving right now. More houses are available for sale.
"Supply and demand" dictate the market. Prices are falling.
New home builders are making large price cuts or giving concessions to move inventory.
This is good news for home buyers and investors.
Interest rates continue to rise, offsetting buyer savings on falling prices.
It is projected rates will continue upward until inflation slows down.
Buyers should keep an eye on the market this spring and summer, it could spell "opportunity."