AUSTIN, Texas —For the first time since February 2019, median home prices in the Austin-Round Rock MSA experienced a 0% year over year increase, according to the Austin Board of REALTORS® November 2022 Central Texas Housing Market Report. As housing inventory and days on the market continue to steadily increase across the MSA, the report indicates normal market activity could be here to stay, as Austin’s housing market maintains its trajectory toward balance and sustainability. For the first time since the spring of 2020, there were no records broken for home sales or median price in either the MSA or City of Austin.
Last month, home sales declined by 36.6% to 2,026 closed listings— the largest drop in closings by percentage since May 2020 during the initial COVID-19 economic hesitancy when closings fell 29.2%. Sales dollar volume fell by 36.8% to $1,175,435,108 as new listings declined 17.8% to