The February 2017 Central Texas Housing Market Report released this week by the Austin Board of REALTORS® (ABoR) showed a slowdown in single-family home sales growth throughout the Austin-Round Rock Metropolitan Statistical Area (MSA) in February 2017, indicating that the Central Texas housing market is beginning to normalize to more stable market conditions.—ABoR
What does that mean?
We are still in a seller’s market. Although inventory has crept up for the last couple of months, it remains weighted in favor of sellers. Even though the median home price in the greater Austin area increased only $10 from January, it was up about 7% over 2016, which in itself was a strong year for sellers.