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The Austin market hasn’t exactly done what we expected it to do this year.
Since 2012, it has been consistent with prices, inventory, and sales rising all at the beginning of the year. However, that didn’t occur this year as inventory didn’t rise the way we expected it to. Sales went up and prices stayed flat.
We’re seeing rapidly increasing inventory and we also expect prices to rise like they have in the past year, though.
“The market is behaving in a way that no one predicted this year.”
We’re also seeing some trends reversing. Very small houses (around 1,600 square feet) being built aren’t selling as well as they have in the past, and now, builders are starting to build starting in the 1,800 square foot size. Anecdotally speaking, we see that people are drifting away from small houses and back toward 1,800 or more square feet.
If you have any interest in buying or selling a house in the Austin market or you have any other questions we can help with, don’t hesitate to give us a call or send us an email. We’d be more than happy to help!