Here’s what’s happening in our Greater Austin housing market.

Are housing prices and supply stabilizing? After this year-long, hectic housing market, we have some good news. Several indicators show that the Texas housing market frenzy is over. However, we are still seeing multiple-offer situations, but they’re not quite the bidding wars we had earlier this year.

Luis Torres, a research economist at Texas A&M, said in November that low mortgage rates, more people in our market, and the vaccine lessening the effects of the pandemic are all contributing to strong demand. **Home sales are increasing as supply increases.

“This isn’t a crash or a bubble; it’s the new normal.”

In our market, we have so many people coming in from out of town with cash, which makes them strong competitors. Torres also says that although the supply is beginning to meet the demand, housing prices and supply will even out and increase at a healthier rate. 

This is great news because he’s saying that it is highly unlikely that the value of homes will depreciate. Sellers are still the captains of the ship, but we will see more homes come onto the market. This isn’t a crash or a bubble; it’s the new normal.

If you want to explore your options, reach out to us and take advantage of my New Home in a New Year Challenge, where you can challenge me to find your dream home. If I do, congratulations are in order for both of us. If I don’t, then you’re out nothing because looking at potential dream homes is pretty fun.

If this interests you at all, call me to learn more. You’ll be the only buyer looking at these homes, and our proven systems and programs can help you get into a home. Reach out to us for all things Greater Austin real estate, and follow us on social media.