Here are the May Single-family Home Sales Statistics for the Austin, TX metro:
Our Austin metro single-family home market seems to be stuck in a rut this year with below average numbers for all 8 categories above except for one. Pendings went up 3.2% which is a positive sign since pending listings are a future-indicator of home sales…once a listing goes pending, it should close about 30-45 days later. And, even though our home prices were down in May, they have only dropped by an average of 1.8% for Median and .1% for Average over the past 3 months. This is likely due to the fact that our inventory of 4.3 months, while high, isn’t quite into a Buyer’s Market area of 6.0 months.
Despite Headwinds, Existing-home Sales Will Pick Up With continued pent-up demand, more inventory coming online, and rate cuts expected in the fall, NAR Chief Economist Lawrence Yun expects an upturn in the second half of 2025. He’s forecasting a 6% increase in existing home sales in 2025 and an 11% increase in 2026. New-home sales, which have been a bright spot thanks to generous builder incentives, are expected to be up by 10% in 2025 and by 5% in 2026.
(512) 853-0110 or robert@AustinTxHomeSales.com
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