Here are the February/2017 MLS single-family statistics for Austin, TX:
February home sales in Austin, TX showed even more softening when compared to our very hot market of the last few years. Again, we had moderate changes in the categories on the left but, while our home prices increased they didn’t do so as strongly as the double-digit increases we saw in January. February’s slower sales could be an indicator of what local experts have forecast —that this year will be another strong one for the local housing market, though perhaps not as roaring as 2016, when sales set a record for the sixth straight year. Here are some comments that further explain our current market:
Brandy Guthrie, 2017 President of the Austin Board of REALTORS® commented, “The Central Texas housing market is just now beginning to catch up to itself after years of unprecedented sales growth. It’s important to remember that current figures are being compared to very strong housing market activity in 2016, so a decline in home sales growth does not automatically mean that the market is softening.”
Mark Sprague, State Director of Information Capital for Independence Title, agreed: “Low inventory levels, high home prices and slowing job growth across the region are preventing a resurgence of the record-breaking numbers experienced the last two years, but overall the region’s housing market remains very strong. The Central Texas housing market is normalizing into a more stable market.”