As I’ve mentioned here the past several months, the one statistic you should pay most attention to is the Months of Inventory. This represents how long it would take to sell all homes currently listed in the Austin metro area (2.2 million people over 5 counties) at the current sales pace. As you can see in the chart below, we just passed 1 month (meaning all homes would sell in just over 1 month) for the first time in 2021! Our previous 4 years averaged between 2-3 months which is still considered a very strong market since 6 months is considered a market in equilibrium (ie-neither buyers nor sellers have an advantage). It is good to see this number gradually increase since the 1st 6 months of this year were insanely crazy and, frankly, not sustainable. Inventory isn’t something that can increase overnight since it requires either more homes for sale and/or lower buyer demand so I predict this will gradually increase until we get closer to the average that we’ve had the past few years.
(512) 853-0110 or robert@AustinTxHomeSales.com
#RealEstate #AustinHomes #MoveToAustin #Relocate #RelocateToAustin #AustinHomeBuyers #AustinHomeSellers #AustinJobs #AustinRealEstate #HomeForSaleAustin #NewHomes #RealEstateMarket