The biggest mistake people make in real estate is WAITING- especially during a market shift like the one we’re in. As of today Travis County (Austin area) has 3.6 months of inventory versus the 2 weeks we had in March/April. Sellers, this is still a healthy supply but we are reaching an equilibrium so the increase in interest rates is doing its job of suppressing demand. Buyers waiting for significant price reductions in the house that checks off all of their boxes is likely not going to see that come to fruition since that one, perfect 10 of a house, will have other offers. Even with the spike in interest rates and supply, homes priced according to what they offer are still selling quickly: the average days on market is still 15 days for homes closed within the past 30 days. Let’s keep it real (estate) ? Give me your questions or comments!
