Texas' Housing Market Hits Troubling Milestone as Inventory Triples

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Texas has more active listings now than it had before the pandemic started, but demand is dwindling.

Housing inventory levels across Texas have reached the highest level since at least 2017, according to market expert Nick Gerli, a record which he suggests will lead to cooling prices in the coming months.'There's now over 113,000 listings on the market in Texas,' Gerli, CEO of Reventure, wrote on X earlier this week, citing data compiled by his app. 'That's nearly triple the level 3 years ago. And comfortably higher than pre-pandemic,' he added.

'San Antonio had a 52 percent inventory surplus, according to Gerli; Austin had a 51 percent surplus; Dallas 38 percent; and Houston 14 percent.'The result is that list prices across Texas are dropping,' Gerli said. In Austin, prices are down 6 percent year-over-year. In Dallas and San Antonio, they're down 4 percent. 'Of course—even with these declines in prices, values are still way too high for most homebuyers to afford.

 

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