Mortgage rates have dropped from nearly 8% last fall to around 6.4%—the lowest in over a year—unlocking buyer potential and sparking renewed interest in the Austin housing market. Home prices have plateaued at $450K, holding steady from last month but 2% down compared to last year. Meanwhile homes are spending more time on the market, averaging 63 days, and housing inventory has increased to 5.1 months, up from 3.7 months last year, giving buyers more options.
The market is poised for what some are calling 'The Great Unlocking.' Discover how these shifts in mortgage rates, pricing, and inventory could open the door for both buyers and sellers who have been waiting for the right moment to act. See the latest update on the Austin market at the link below.
Posted by Charla Housson on
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