Austin Homebuying Activity Shatters July Records

Homebuying activity throughout the Austin metro reached new highs in July 2018. According to metrics by the Austin Board of Realtors (ABOR), the year-over-year median price of $320,000 set a new record. In the meantime, the sales-dollar volume of $1.2 million was the highest seen since July 2011.

“Strong pending sales activity in June contributed to a big uptick in home sales growth last month, and pending sales growth was strong again in July, too,” said Steve Crorey, ABOR President “This means we could see another uptick in home sales growth in August to end the summer selling season on a high note.”

The number of homes on the market during the same time, and decline in housing inventory remains steep. Crorey said the city of Austin lost almost half a month of inventory between July 2017 and July 2018, and “that’s a lot of inventory to lose year over year.”

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