Austin started this year with an already low inventory. With more than half the year behind us, we have reached record-low numbers in availability throughout the greater Austin region which contributes to why home prices saw a jump of 11% YoY. This has created a unique real estate landscape that brings both challenges and opportunities.
“Our market is now ultra-competitive because of our dangerously low inventory and that is cause for concern over the long term. Homeowners thinking of listing their homes need to understand the opportunities in the market and our elected leaders should focus on promoting policies that create increased housing capacity. The jobs pipeline into Austin continues to create new economic opportunities and a double-digit percentage gain in new listings in July, coupled with buyers continuing to take advantage of historically low interest rates, allows us to be cautiously optimistic about the remainder of 2020.” -ABOR
If you're looking to list your home there has never been a more perfect time, and if you need to buy, ensure you have an expert to help you navigate this competitive market. Find your Moreland Properties agent here, and start the process today.
