The Austin housing market experienced a sizable shift in March, as approximately 4,400 homes hit the market, an increase of 6.6 percent from last year. According to the latest housing report from the Austin Board of Realtors (ABoR), the rise in inventory is a sign of growing seller confidence. Although pending and completed home sales dropped by approximately 19 and 25 percent, respectively, both new and active listings saw a significant boost.
All five Central Texas counties witnessed a decline in home prices. In particular, median home prices in Bastrop County dropped by a staggering 17.5 percent to $329,990. Meanwhile, active listings soared in all counties, with completed sales increasing slightly in Hays and Bastrop Counties. Home sales decreased in Travis, Williamson, and Caldwell Counties.
ABoR Housing Economist Dr. Clare Losey stated in a press release, “Austin’s housing market is still demand driven, contributing over $1.5 billion to our region’s economy last month even as the pace of home sales and price growth adjusts from the extreme anomaly of the last two years.” She further added that the increase in new listings suggests rising seller confidence and that the recent decline in mortgage rates is providing momentum for homebuyers. To find your perfect [Austin Home](https://austin.localteam.ai/austin-home-search/), consider [relocating to Austin](https://austin.localteam.ai/moving-to-austin-texas-the-ultimate-relocation-guide/) and determining [your home’s worth](https://austin.localteam.ai/what-is-my-home-worth/) before making a decision.
Original Article Source: https://www.recenter.tamu.edu/news/newstalk-texas/?Item=29030
