My Take on April Statistics

This (below) is why I’m not worried about Austin real estate. In a month as awful as April, it was still only this bad. There’s a hundred reasons to be bullish about Austin, which is a speech my clients have to endure too often. 🙂 Besides steady job creation, stable cornerstone industries, and a high quality of life, the key beyond everything else in my opinion is the months of inventory we have. Six months of inventory would be equilibrium, and past that number a city becomes a buyer’s market. You don’t flip that to a buyer’s market overnight, you have to slowly chip away at that inventory number (2.1). The city of Austin shows even stronger stats than the metro as a whole (second picture below). It’s inventory went down to 1.6 months, and prices went up 12%! Although buyers and sellers both decreased this past month, I forsee we’ll still be a strong sellers market for years to come.