4 key takeaways, expert analysis and median home prices for Austin-area houses in April
Austin-area home sales in April showed a decrease year-over-year compared to April 2022, but experts say it's a sign of a market that is still stabilizing, and is somewhat reflective of national trends.
“Inflation, the near doubling of mortgage rates, fear of a recession, and, most recently, stress in the banking system have all contributed to declines in home prices nationally," housing economist Clare Losey for the Austin Board of Realtors said in a statement. "In Austin, robust job and population growth have mitigated these effects on homebuyer demand, favorably indicating that our region’s economy and housing market continue to outperform national economic trends. Austin remains resilient and able to withstand broader economic turbulence more effectively.”
Key takeaways from the Austin Board of Realtors
Home sales declined 22.7% nationally while in Central Texas, they declined 14%
Active listings in the City of Austin skyrocketed 216% to 2,357 listings this month as pending sales declined by 9.9% to 949
Austin-Round Rock housing inventory increased 2.4 months to 3.2 months of inventory, and homes spent an average of 71 days on the market, up 53 days from April 2022
In Travis County, home sales decreased 28.6% to 1,167 sales last month, while the median price dipped 13.3% year over year to $537,500
This article originally appeared on Austin American-Statesman: Home sales analysis for Austin and Central Texas
