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.