Austin home prices have steadily increased for over ten years. In the current market, inventory is critically low. There will often be multiple buyers bidding on the same house, which means houses are selling for more than market value.
Does that mean we are in a bubble and a market correction is coming? If you’re trying to buy a house, you might be hoping a crash comes so there will be more homes available and prices will begin to decline. If you look at some of the underlying factors though, that may not be a realistic expectation.
Charles Lewis is a REALTOR® in the Austin area. He helps people all over the greater metro area buy and sell houses. Schedule a no-obligation phone call to find out he can help you accomplish your real estate goals faster.