Home Sales Growth Slows, Coming Back to Normal

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A slowdown in single-family housing sales took place throughout the Austin-Round Rock Metropolitan Statistical Area (MSA), according to the February 2017 Central Texas Housing Report, released by the Austin Board of Realtors. The figures indicate that the Central Texas housing market is beginning to stabilize, following years of high sales growth.

Home sales in the MSA increased 0.9% year over year to 1,829. However, single-family home sales actually declined from February 2016 in many of Austin’s suburbs, with exceptions including Buda, Cedar Park, Leander and Austin, itself.

“Low inventory levels, high home prices and slowing job growth across the region are preventing a resurgence of the record-breaking numbers experienced the last two years, but overall the region’s housing market remains very strong,” said Mark Sprague with Independence Title. “The Central Texas housing market is normalizing into a more stable market.”

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