Austin housing market balancing itself out after home sales soared a few years ago

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The Austin housing market has seen a drastic change in the last five years. It is now balancing itself out after homes were selling at an unsustainable rate jus

t a few years ago.

"We had multiple grandkids birthday parties here, family gatherings," Mata said as he recalled happy memories from his time living at his home which has been on the market since the end of August. These buyers were able to spend more money with low interest rates to buy homes, but there was very low supply, which Morgan said drove high price.

This is leaving people to decide if they buy now around a 6% interest rate, or wait and see if that rate lowers. Back at Mata’s house, he said he is selling for less than he would have liked.

 

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