June 2020 Market Data for Austin Texas

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Record low inventory numbers are slowing home sales.  Although sales of homes were up 7.1% in the Central Texas region as a whole, (3.750 in June 2020 versus 3.500 in June 2019) sales were actually DOWN in the City of Austin, Travis County and for most of the close-in suburbs due to low inventory of homes for sale. 

While you might hear about year over year growth, most of that growth has been in outlying areas such as San Marcos or Lockhart.  If you work in Austin, that's a pretty long commute!  

What can we do about it?  Well, while in pandemic mode, a lot of people are afraid to make a move simply because the economy seems to be unstable and the job outlook changes so rapidly.  However, it's important to note that sometimes this is the best time to change your living situation.  Why?  Because with economic uncertainty comes opportunity.  If you are an empty-nester and have been thinking about right-sizing your lifestyle - and that includes your home, this is a great time to sell.  There are a lot of buyers out there who are looking for property and you might be able to sell very quickly. 

Where would you go?  There are numerous new home communities that aren't way out of town - that have great floor plans and low maintenance options that could be perfect for you.  If you'd like to take a look at some of what's available - check here. https://www.showingnew.com/davidhood

Of course, there are lots of options beyond new homes and we'd be happy to talk with you about buying or selling.  Give us a call or send us an email!

Have a great rest of your summer!!

David Hood


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