CENTRAL TEXAS HOUSING MARKET ENDS THE QUARTER WITH MOMENTUM FOR BOTH BUYERS AND SELLERS

Job growth and mortgage rates fuel a demand-driven housing market

Austin-Round Rock MSA housing inventory topped 3.0 months in March, while an increase in new and active listings indicates favorable market conditions for buyers and sellers, according to the Austin Board of REALTORS® latest Central Texas Housing Report.

“This spring has ushered in a sweet spot for both buyers and sellers,” Ashley Jackson, 2023 ABoR president, said “There are three times the number of homes on the market than a year ago, bringing more choice and opportunity to homebuyers in over a decade. REALTORS® are reporting that they are busy and the market is moving at a much healthier pace than it has in years. If sellers work with a REALTOR® to price and market their home correctly, it’s going to sell.”

Dr. Clare Losey, who recently joined ABoR as its first housing economist, commented on the ongoing strength of Central Texas’s housing demand as mortgage rates stabilize and housing activity continues to normalize.

"Recently announced layoffs have not been enough to indicate a downturn in Austin’s job market or impact housing demand. In fact, Travis County’s job market is projected to grow at nearly double the pace of job growth statewide over the next decade, with the leisure and hospitality sector leading that growth.”