Is the Austin-Round Rock Real Estate Market Going to Crash?

After 20 years in the high-tech industry, I decided I wanted to be in the real estate business.  How hard could it be, right?  Well, now I’ve now been in the Austin-Round Rock real estate business for almost twenty years, and I also realize how little I knew when I started.  But I survived and thrived and I’m still enjoying it.  After 20 years of many successes and mistakes, I have a much better idea of what matters.  Now I know what location, location, location means.  If you don’t, ask us.

I’ve personally bought and sold dozens of properties for my own personal reasons, and I’ve helped hundreds of clients buy and sell properties for their own use.  I’ve gotten to that point in my career where I enjoy being a teacher and sharing my real estate experience with clients to help them make wise decisions and to help them consider things that they might not realize until after purchasing a property.  A little experience can go a long way towards preventing costly mistakes and also those annoying little things that you wish you would have considered before you made that big real estate purchase.

Lately, one of the questions that I’ve been asked by many clients and other professionals, is the Austin real estate market going to crash?  I’ve been trying to guess the direction of the Austin real estate market for almost 20 years without much success. The only thing consistent about my predictions is that when I think it cannot go any higher, it does.

I’ve been fortunate enough that I bought and held a few properties that I acquired through my career.  Of course, since I held them, I bought them when prices were lower, and they are now worth more than I paid for them.  It seems that Austin real estate has always been a good investment as far back as they began keeping records.  There have certainly been some highs and lows along the way, but I’ve acquired properties and held them through the mortgage crisis, and they continue to be good investments.

So, is the Austin real estate market going to crash?  I don’t think so!  I think it will level off and may evens settle a little, but I don’t think Austin real estate is going to do anything that we would describe as a crash.  Austin has too much going for it.  It is becoming the new high-tech center of the US. There are many people and companies relocating from California and other areas to Austin. There are multiple announcements of major manufacturers moving to the Austin area. There are real estate investors from all over the world investing in the Austin Round Rock real estate market. However, even though Austin Texas doesn’t bring down the price of Austin real estate, there are other global or national things to consider that we will talk about in another post.

Austin-Round Rock Texas is entering a new era in real estate. Years ago, I saw a California real estate poster that depicted a skeleton of a person long dead. The caption read “Still waiting for California home prices to go down”.  Ever increasing real estate prices in Austin and California has been a double-edged sword. It has allowed some people to sell their house after many years and retire happily to a cheaper area. The downside is that it has kept large numbers of hard-working people from ever being able to own a home.

Is it too late to buy invest in some Austin real estate?  One thing I’ve learned by experience, is that if you are a long-term real estate investor, the odds are in your favor to make a profit if you hold it long enough.  You can always hold a property until the market recovers.  I’ve survived a couple of downturns along the way, and I’ve never lost money on a real estate deal in Austin.  Of course, It’s always better to buy low and sell high, but that requires making predictions of the future market performance which is rarely accurate. it really doesn’t matter when you buy.  If you hold long enough, you can make a profit.

In the long run, land is a limited commodity, and they are not making (much) more of it, so long-term, real estate will continue to rise with some ups and downs along the way.  I think more important than when you buy, is where you buy. There is a saying that the three most important things in real estate are location, location, location. This is absolutely true. I would much rather own 1 acre in Round Rock Texas than 100 acres in the Sahara Desert.

Austin real estate is like all of the old cars I’ve ever owned.  I wish still owned all of them.

Contact us if we can help you buy a home, investment or commercial property in the Austin-Round Rock area.  It’s a great way to build wealth.

Walter Rock
ROCK Properties Realty
512 850 4510
info@rockproperties.com

In 2021, more homes were sold in the Austin-Round Rock area than ever before

Author: Britny Eubank

Residential home sales rose 2.5% year-over-year.

AUSTIN, Texas — More homes were sold in the Austin-Round Rock area in 2021 than ever before, according to a new report from the Austin Board of Realtors (ABoR).

ABoR’s report shows that residential home sales rose 2.5% year-over-year to 41,316 homes sold in 2021. The median price for a home across the area also set a record last year, rising 30.8% over 2020 to $450,000. Additionally, more homes hit the market in 2021 than ever before, with new listings increasing 5.9% to 46,449 homes and pending listings increasing 1.1% to 42,592 homes.

In the City of Austin alone, residential home sales increased 4.6% to 13,351 sales, an annual record. The median sales price for residential homes in Austin rose 27.7% year-over-year to $536,331 in 2021, also an annual record. New listings slightly increased 1.4% to 14,937 listings while active listings dropped 41% to 782 listings, and pending sales increased 4.7% to 13,595 pending sales.

Cord Shiflet, the 2022 ABoR president, called 2021’s housing market the “most exciting, complicated, fast-paced and record-setting” market in Austin’s history.

“With all the new jobs across the region from exciting companies like Tesla and Samsung, Austin was put on the world’s stage and captured the hearts and attention of so many,” Shiflet said. “We are lucky to call Austin our home when it has so much to offer from a great quality of life to a wonderful destination for innovation and opportunity.”

One number did show a notable decline for the area: the average number of active listings on the market dropped 48.2% to 2,348 homes last year. ABoR said homes spent an average of 20 days on the market, 25 days fewer or 55.6% less than in 2020. The 5-county MSA ended 2021 with 0.6 months of housing inventory.

Mark Sprague, the state director of information capital at Independence Title, said that 2021’s housing records were set due to high demand combined with limited supply. Lack of inventory and supply chain disruptions could continue to affect the housing market this year.

“Lack of inventory and global supply chain issues may lead to a 5-7% decline in closed sales across the region in 2022, but rising home values will ensure the housing market’s economic impact remains steady,” Sprauge said. “In short, 2022 will see a robust market for home sales and property values, but the region must do more to address inventory.”

To read more about December’s numbers and dig into the 2021 numbers for Travis, Williamson, Hays, Bastrop and Caldwell counties, check out ABoR’s full report.

Cities with the most expensive homes in Austin metro area

Cities with the most expensive homes in Austin metro area


Written by: Stacker

Buying a home is an investment—and an increasingly expensive one. The typical value of a home in the United States today is $316,368, a 19.3% increase over the last year.

Stacker compiled a list of cities with the most expensive homes in Austin-Round Rock, TX metro area using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of November 2021.

Home buyers have a lot to consider when house-hunting or looking to invest in rental properties, from the state of the housing market itself to taxes and potential resale value. The housing market grew robust and pricey in the decade following the 2008 recession, and more recently saw a boom during the coronavirus pandemic. Another consideration is the house itself, including what kind of upkeep it requires and those associated costs. Depreciation affects all homes at an average rate of 3.636% each year, which can be a help come tax season if you use your home for business or rentals but may cost you later in capital gains taxes when you sell. Meanwhile, land value tends to increase over time depending on several factors including where the house is located and what amenities and homes are nearby. More desirable neighborhoods allow sellers to charge more; the mantra “location, location, location” has never been more relevant.

How does your city rank? See the cities with most expensive houses in Austin-Round Rock, TX metro below:

#10. Dripping Springs, TX ($839,677)
– 1 year price change: +47.6%
– 5 year price change: +93.4%

#9. The Hills, TX ($895,221)
– 1 year price change: +43.2%
– 5 year price change: +75.0%

#8. Bee Cave, TX ($928,678)
– 1 year price change: +42.3%
– 5 year price change: +75.5%

#7. Driftwood, TX ($984,132)
– 1 year price change: +51.1%
– 5 year price change: +96.2%

#6. Bear Creek, TX ($1,056,792)
– 1 year price change: +66.3%
– 5 year price change: +151.9%

#5. Sunset Valley, TX ($1,061,898)
– 1 year price change: +40.6%
– 5 year price change: +82.7%

#4. Volente, TX ($1,123,547)
– 1 year price change: +46.1%
– 5 year price change: +98.4%

#3. Lost Creek, TX ($1,362,860)
– 1 year price change: +47.8%
– 5 year price change: +87.6%

#2. West Lake Hills, TX ($2,285,617)
– 1 year price change: +47.1%
– 5 year price change: +89.9%

#1. Rollingwood, TX ($2,401,379)
– 1 year price change: +44.5%
– 5 year price change: +89.9%

Cities with the fastest growing home prices in Austin metro area

Written by: Stacker

Supply and demand drive the real estate market, affecting everything from building and lot values to availability for buyers and sellers. These forces are usually closely aligned with an area’s economy, job market, population, demographics, location, interest rates, and several other constantly evolving factors. The coronavirus pandemic put an enormous strain on the economy, but created a real estate boom driven largely by people buying second homes as vacation properties.

Stacker compiled a list of cities with the fastest growing home prices in Austin-Round Rock, TX using data from Zillow. Cities are ranked by the change in Zillow Home Values Index for all homes and apartments over the last year as of November 2021. The typical home value in the United States increased over the last year by +19.3% to $316,368.

Keep reading to see if your home city made the list.

#15. Mountain City, TX
– 1 year price change: +48.2%
– 5 year price change: +78.8%
– Typical home value: $542,308 (#23 most expensive city in metro)

#14. Anderson Mill, TX
– 1 year price change: +48.5%
– 5 year price change: +91.2%
– Typical home value: $516,568 (#28 most expensive city in metro)

#13. Kyle, TX
– 1 year price change: +48.8%
– 5 year price change: +79.1%
– Typical home value: $360,499 (#51 most expensive city in metro)

#12. Buda, TX
– 1 year price change: +50.2%
– 5 year price change: +78.0%
– Typical home value: $458,292 (#35 most expensive city in metro)

#11. Liberty Hill, TX
– 1 year price change: +50.8%
– 5 year price change: +81.5%
– Typical home value: $535,431 (#25 most expensive city in metro)

#10. Round Rock, TX
– 1 year price change: +51.1%
– 5 year price change: +83.0%
– Typical home value: $497,994 (#30 most expensive city in metro)

#9. Driftwood, TX
– 1 year price change: +51.1%
– 5 year price change: +96.2%
– Typical home value: $984,132 (#7 most expensive city in metro)

#8. Creedmoor, TX
– 1 year price change: +51.4%
– 5 year price change: +120.5%
– Typical home value: $537,697 (#24 most expensive city in metro)

#7. Hutto, TX
– 1 year price change: +51.8%
– 5 year price change: +84.1%
– Typical home value: $407,257 (#44 most expensive city in metro)

#6. Thrall, TX
– 1 year price change: +52.2%
– 5 year price change: +112.9%
– Typical home value: $415,895 (#42 most expensive city in metro)

#5. Cedar Park, TX
– 1 year price change: +52.4%
– 5 year price change: +85.9%
– Typical home value: $559,717 (#21 most expensive city in metro)

#4. Coupland, TX
– 1 year price change: +53.3%
– 5 year price change: +102.3%
– Typical home value: $580,974 (#18 most expensive city in metro)

#3. Leander, TX
– 1 year price change: +55.5%
– 5 year price change: +84.1%
– Typical home value: $516,640 (#27 most expensive city in metro)

#2. Granger, TX
– 1 year price change: +57.3%
– 5 year price change: +125.5%
– Typical home value: $386,982 (#46 most expensive city in metro)

#1. Bear Creek, TX
– 1 year price change: +66.3%
– 5 year price change: +151.9%
– Typical home value: $1,056,792 (#6 most expensive city in metro)

Is It Good News for the Austin-Round Rock Home-Purchase Market?

Austin-Round Rock home-purchase market

The Winds of Change

Good news is in the air when it comes to the home-purchase market

By Laura Brandao,
President, American Financial Resources Inc.

Mortgage rates increased at the end of last year, seemingly blown in with the crisp fall air. These higher rates added to the deceleration in home-price growth that was already underway as home shoppers balked at record housing prices.

As rates continue to increase, the number of refinances will likely decline, chilling the demand frenzy that has occurred since the onset of the COVID-19 pandemic. Mortgage originators will need to shift their focus to purchase loan business. Fortunately, tailwinds could be behind this shift in the market.

Pending home sales began rebounding this past August after two months of declines as the supply of properties on the market increased, according to the National Association of Realtors. Entering the new year, contract signing activity is increasingly pronounced in areas of the country where affordability is more prevalent — including communities in the South and Midwest — especially with many workers still able to do their jobs remotely. And the supply of homes shows a stabilizing housing market.

New construction also has begun to increase as lumber prices are finally coming down from their pandemic-era peaks, and construction timelines are improving as ongoing supply chain issues reach a resolution. The Biden administration aims to limit price growth by adding 100,000 affordable homes to the U.S. market over the next three years.

Surging millennials

According to some industry experts, the “coming of age” for millennial homebuyers may be the greatest driver of 2022 home sales. The typical age of a first-time buyer in 2021 was 36, according to Zillow.

More than half of all home-purchase applications in 2020 came from millennials, a first-time occurrence, according to CoreLogic. This share is only expected to grow in the coming years as this generation continues to age into prime homebuying years. Millions of older millennials are getting married, starting families and planning to buy a home.

Although the enthusiasm of those who have been shopping for a home for a while might fade, there are still plenty of new buyers entering the market. And there are many buyers who built up a lot of motivation during pandemic-induced quarantines. They have been waiting for skyrocketing home prices to settle, and they may now be ready to consider renovating a fixer-upper or even purchasing a newly constructed home.

Multigenerational households

At the other end of the spectrum, many baby boomers are downsizing from the large residences in which they raised their families. Some retire and look for smaller properties in warm, desirable destinations, but thanks in part to pandemic-related travel restrictions, many older Americans are moving in with their adult children to be closer to their grandchildren.

In fact, one of the intriguing trends coming out of the pandemic has been the dramatic rise in multigenerational households. The pandemic reshaped the way people see their homes and, in turn, transformed architectural design styles and trends for new and renovated homes.

One of the many things the COVID-19 pandemic has taught is the importance of making the most of time with friends and family, along with the need for well-designed places to connect. Multigenerational home remodels are likely to be a trend that continues to gather momentum, and it includes the need for space designs that offer ways to be together as well as apart within a home. This means that demand for designated home offices and multipurpose spaces are increasing.

Today, the mother-in-law suite — whether it’s a portion of a house that has been remodeled to accommodate a relative, or a smaller, detached “granny flat” — is beginning to see a resurgence with homeowners. According to USA Today, some 51 million Americans now live in multigenerational households, a 10% increase since 2007. One reason why these units are so popular is that these living arrangements allow multiple generations to share in the financial responsibilities that come with homeownership.

Latino wealth

Latinos may not have the wealth of other demographic groups, but as a whole they are the most likely to pool their incomes to buy a house, according to a 2021 report from the National Association of Hispanic Real Estate Professionals. The survey found that 41% of Latino respondents live in a multigenerational household supported by at least three incomes.

Half of these people reported combining all household income to pay for at least some expenses, including rents or mortgages. That’s the highest of any racial demographic in the report. And it’s just one reason that the Hispanic homeownership rate is expected to reach 50% over the next five years.

In another finding which indicates that Latinos are likely to play a major role in sustaining the housing market, more than half of respondents who are renters said they plan to buy a home within the next five years. That’s twice as many as non-Hispanic, white renters. And this trend is even more pronounced among those who own businesses or currently live in multigenerational households.

Supportive legislation

For those who plan to buy a home for the first time, there is a lot of help pending on Capitol Hill. Late last year, lawmakers were debating a $15,000 first-time homebuyer tax credit to spur homeownership opportunities across the country.

Legislation is only one element of a bold housing agenda to combat the housing-affordability crisis while addressing centuries of discriminatory housing policies that have left massive wealth, homeownership and opportunity gaps between white communities and communities of color. Another proposal would give downpayment assistance of up to $25,000 to first-time homebuyers but only those who also are first-generation buyers and are classified as economically disadvantaged.

Yet another bill proposes the creation of a new 20-year fixed-rate mortgage program through Ginnie Mae. This legislation, dubbed the Low-Income First Time Homebuyers Act, would create a program through the U.S. Department of Housing and Urban Development to sponsor low-cost, long-term loans.

As long as a borrower attests to the fact that they’re a first-generation buyer, they are able to apply. According to the bill, Ginnie Mae and the U.S. Department of the Treasury would subsidize the interest rate and origination fees associated with these 20-year mortgages so that the monthly payment would be in line with a new 30-year Federal Housing

Administration-insured mortgage. This would allow qualified buyers to build equity at a faster rate than with a conventional 30-year loan. Additionally, as part of last year’s American Rescue Plan stimulus relief bill, states, municipalities, territories and tribal governments were allotted $350 billion to speed up their economic recovery from the COVID-19 pandemic. Many states provided grants to cities and counties to help fund affordable housing where it was needed most.

The plan provided $10 billion to cover the costs of capital projects such as broadband infrastructure. This capital projects fund took critical steps in addressing the challenges laid bare by the pandemic — especially in rural America and low- and moderate-income communities — and will help ensure that all communities have access to the high-quality, modern infrastructure needed to thrive, including internet access.

Path forward

Economists raised their projections for early 2022, when they expect the impacts of the virus and supply chain disruptions to diminish. The Mortgage Bankers Association forecast purchase loan originations to grow to a record $1.73 trillion in 2022. Home purchases will make up nearly 75% of the market by the end of 2023.

Lenders and originators attempting to differentiate themselves on price alone will not find this conducive to establishing strong client relationships, nor will it produce the referral business needed to successfully navigate a purchase-centric market. After a strong refinance wave that lasted well over a year, it is time to focus on specialty loan programs that will help more borrowers.

Far too many veterans, first-time homebuyers, student debtholders and other prospective borrowers with competitive market bids have lost out on homes due to a lack of tailored mortgage advice. Conventional loans are not a one-size-fits-all solution — and they never have been.

Make this the year that you understand and provide a full suite of loan options to help differentiate your business in the new purchase market. The more niche loan programs you know of — and the more you partner with a lender experienced in processing these loans that will walk with you every step of the way — the more people you’ll help to bring home, no matter their family situation or location.

Is Buying A Rental Property Your Ticket To Financial Freedom?

Shared from Across America

When you invest in rental property, you may be able to increase your earning potential and generate positive cash flow for yourself.


Buying a rental property can be a great investment at any age. In doing so, you can receive regular payments that act as an additional form of income on top of your day job. In fact, you can also do short-term rentals or partial rentals out of your primary residence.

As a rental property owner, you have various rental options that allow you to earn money to use toward your mortgage payments (and more). Here’s what you should know about owning and renting out a rental property.


How On-Demand Hospitality Platforms Are Changing The Landscape Of Traditional Property Investing

While traditional renting typically entails finding a tenant to rent your property for longer, more-permanent stays (such as yearly leases), on-demand hospitality platforms allow people the flexibility to rent their properties at their own leisure. For instance, many rental owners will offer one-night or weekly bookings, or even monthly stays.

Benefits Of Owning A Rental Property

There are many benefits of owning a rental property as an investment, according to SF Gate. Here are three major pros to consider:

  1. Tax Benefits
    Owning a rental property provides great tax benefits depending on your state. For instance, property investors pay little to no taxes on their rental property income, as only the portion of your rental income that exceeds the mortgage and property tax payments is taxed. They also tend to get deductions, such as mortgage interest and insurance, when filing for taxes.
  2. Positive Cash Flow
    Renting out your property will ensure a positive and consistent cash flow each month — without you even having to go to work. This is a great source of income you can rely on regularly, which can contribute to your financial security or simply allow you extra cash in the bank. Keep in mind, the more tenants you have, the higher the cash flow — so if purchasing an entire apartment building is in the cards for you, it will be better for your finances.
  3. Value Appreciation
    Over time, your property’s value appreciates, meaning you will earn more to put toward your mortgage. Additionally, you’ll be able to sell your property at a higher price than when you purchased it, especially since property values have been increasing as of late. Best of all, if your property’s value increases significantly, you may be able to refinance your mortgage to a higher amount to match the property value and withdraw the difference between your current mortgage amount and new (known as a cash-out refinance).

Cons Of Owning A Rental Property

While there are many attractive benefits of owning a rental property, there are also some important cons to keep in mind:

  1. Difficult Tenants

Dealing with difficult tenants can be a real headache for property owners. But if you take the time to conduct thorough background checks, check references and meet with the renter in person before having them sign a lease, you shouldn’t run into too many problems.

  1. Challenges Of Being A Landlord

Being a landlord can often feel like being a boss. There’s stress and responsibility that falls onto your shoulders. Additionally, when quick repairs are needed or other issues arise with your property, it’s your job to hire a professional and cover the expenses.

  1. Potential For Neighborhood Depreciation Or Unfavorable Tax Changes

Just as property value can appreciate over time, it can also depreciate due to neighborhood changes. Additionally, property taxes and insurance premiums can spike.


Features Of A Great Rental Property

Looking to purchase and rent out a property? Here are some key features of a profitable investment property to consider:

  • Average rents — When deciding on the right rent to charge for your property, you’ll want to conduct some research on the average rent in the area. Charging too much will deter potential renters, while charging too little can leave you with barely enough money to cover your mortgage and other payments. Additionally, you’ll want to account for potential changes such as tax increases or spikes in insurance premiums.
  • Number of listings — Depending on the number of listings in your area, you will either need to raise or lower your rent to accommodate it. For instance, if there are many vacancies in the neighborhood, you’ll have to decrease your rent to stay competitive; while if there are few to no vacancies, you might get away with increasing your rent and earning more than anticipated.
  • Future development — Check with your local municipal department so you can anticipate new development plans. This will help you determine whether you’ll be up against new properties or additional housing.
  • Natural disasters — If you’re renting a property in an area that experiences frequent natural disasters such as earthquakes, flooding or even tornadoes, be sure to account for insurance, which you’ll need to subtract from your returns.
  • Property taxes — It’s important to know how high your property taxes will be, as they vary widely. You can check your municipality’s assessment office for tax information or simply talk to other homeowners in your neighborhood. High property taxes might mean you’ll have to charge an unrealistic amount in rent, so be sure the town in which you’re looking to purchase a rental property is not in financial distress.
  • Schools — Depending on the size of the property you’re looking to rent, you’ll want to consider the quality of local schools, particularly if you own a family-size home. If you purchase a home in an area without good schools, your investment won’t be nearly as valuable.
  • Neighborhood — The neighborhood in which you buy your rental property will greatly impact the renters you attract. For example, if you’re renting a home in a college town, odds are your tenants will be students; but if you’re renting out a nice condo in a small community, you might find tenants who are looking to settle down.
  • Amenities — Local amenities such as parks, restaurants, public transportation, downtowns and more can increase the value of your home. This will attract more renters to your property, thus allowing you to increase your rent.

Austin New Home Sales Are ‘Normalizing’ As We Near 2021 End

By: Meagan Falcon, Patch Staff

The Texas new homes market, particularly in Austin, appears to be “normalizing,” according to a December report from HomesUSA.com​.

AUSTIN, TX — The Texas new homes market, particularly in Austin, appears to be “normalizing,” as new home prices remain near record highs and Days on Market hover near record lows, according to a December report from HomesUSA.com.

The Dallas-based company, which analyzes new home sales and days on market reports monthly, said overall sales data stabilized statewide last month. The 3-month moving averages of statewide new home listings and pending sales also were higher in November.

Across the Lone Star State, new home listings increased from 14,260 in October to 14,599 last month. Pending sales increased from 4,151 in October to 4,692 in November.

The average Days on Market for a new home in Texas was 54 days – up one day in November from the record low the company reported in October, the report states.

While new home prices were slightly higher statewide in November as the 3-month moving average of new home sale prices hit $422,199 versus $419,341 in October, it was one of the smallest month-over-month price increases since June.

In November, median sales price rose 29.7 percent to $470,000 — a record for the month of November in the Austin Metro, according to a Dec. 16 report by the Austin Board of Realtors.

Officials said the sales dollar volume rose 20.5 percent to $1,882,296,166. New listings in Austin increased 6.7 percent to 2,950 as active listings ticked down 2.2 percent to 2,768.

“Texas’ new homes market is normalizing,” said Ben Caballero, CEO of HomesUSA.com and world record holder for most home sales. “The good news for buyers is we see more new homes coming onto the market. The good news for Texas builders is that both total sales and sales activity remains incredibly robust,” Caballero explained.

Caballero notes that statewide, based on November’s 3-month moving average of MLS data, Texas new homes sales were 3,113 versus 3,061 in October.

In three of the state’s four largest new home markets – Houston, Dallas-Ft. Worth and Austin – total sales were up last month.

In November, 53 percent of the 3,215 closed listings in the Austin Metro —1,694 homes —sold between $250,000 and $500,000, today’s typical price range for first-time and first-time move-up homebuyers, the ABoR report said.

Across the Austin-Round Rock MSA, closed listings dipped 4.9 percent to 3,215 across the area. This occurred even as the housing market remains on track for a record-breaking year, with closed listings outpacing 2020 by 3.1 percent last month.

This data indicates that despite a fast-paced market and record-low inventory, opportunity still exists to find the right home, the ABoR said.

“We have all seen the headlines about our housing market and the Austin Board of Realtors knows that it is competitive, however, when you dig a little deeper, you can see that there is plenty of opportunity and our market is still readily accessible for homebuyers across all price levels,” Susan Horton, 2021 ABoR president, said. “This doesn’t mean there isn’t work to be done to ensure everyone has equal opportunity to find a home here, but it does demonstrate that by working with a licensed realtor, homebuyers and renters can find something that works for their budget and housing needs.”

Only San Antonio showed lower new home sales. Still, Caballero cautioned that new homes are selling so fast that many are not being entered into the MLS (Multiple Listing Service), which remains the most reliable and timely source of sales activity.

“Builders have more buyers than they have homes, and when you have a waiting list of transaction-ready buyers, builders don’t have a reason to enter them into the MLS,” he added, “and that the MLS data indicates the market is becoming more balanced.”