As of November 2024, the housing market in Austin, Texas, shows an increase in supply, with active listings up 12.1% from the previous year, reaching levels not seen since 2020. However, over half of these homes are “stale,” sitting unsold for more than 60 days. Despite rising home prices (up 3.6% in October) and elevated mortgage rates over 7%, there are signs of improvement in pending home sales, hitting their highest level in nearly two years. Buyers, recalibrating expectations, now have better negotiation power, but high prices and interest rates continue to hinder accessibility for many.
