AMIDST CHALLENGING ECONOMIC CONDITIONS, AUSTIN- ROUND ROCK MSA HOUSING MARKET CONTINUED TO NORMALIZE DURING THE FIRST HALF OF 2023

"The ability to buy a home remains the best way to create generational wealth, and that needs to be more accessible to everyone".

Dr, Clare Losey - ABoR Housing Economist

During the first six months of 2023, the Austin-Round Rock MSA housing market remained robust and continued to normalize despite macroeconomic factors impacting the housing market and economy, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Despite increased inventory across the region, long-term solutions to address affordability and housing availability are still needed. ABoR will once again convene experts from across the community this month to continue advancing housing solutions designed to ensure the future of the region’s housing market is equitable and sustainable.

The number of homes on the market jumped 38.4% to 9,631 active listings, causing housing inventory to skyrocket to 3.7 months of inventory, up 1.6 months from last June. Pending sales increased 19.1% to 3,110 transactions and homes spent an average of 61 days on the market, 43 more days than in June 2022.

Dr. Clare Losey, ABoR housing economist, sees a market that has held steady but still needs increased inventory to house our region’s growing population.