AUSTIN (Austin Business Journal) — Home sales in the Austin metro fell for the first time in more than a year in July, according to new numbers from the Austin Board of Realtors. Some housing experts think this — along with other indicators — mean the market might finally be seeing some relief.
Closed sales in July were down 9% year over year at 4,041. It’s important to note that closed sales are a bit of a lagging indicator, as it can take more than a month to complete a deal.
Active listings and pending sales were both lower than they were at the height of the pandemic, down 36% and 11% year over year, respectively. However, monthly inventory showed signs of improvement: in July, 3,294 homes were actively listed on the market, compared with 2,265 in June.