Local news network KXAN published an article recently about the Austin housing boom and the extremely low inventory, soaring prices and increased competitiveness is making securing a home to purchase in the Austin area harder than ever. Sadly, for many folks, this leaves them on the outside looking in.
For a real estate market to be considered balanced, inventory needs to be at or around 6 months. The Austin-Round Rock market has less than 1 month of inventory! This means the market is often seeing multiple offers, offers over asking price, cash offers and more, which are things many homebuyers are not able to compete with. This is leaving many buyers feeling discouraged and unsure of how to proceed in this market.
If you are looking to purchase a home in the Austin-Round Rock metro area, I'd love to help. There are strategies we can employ to help make your offer stand out even in a market like this!
Source:
https://www.kxan.com/news/local/austin/whos-being-left-out-of-austins-residential-boom/?fbclid=IwAR2itczkb3Q9tU8HxPnNCUA9uxnLC43lw6wVrs0PQARYp0Ohl-cM43Ts07U