In March, new home listings across the Austin-Round Rock-Georgetown MSA jumped to 4,714 new listings, 10.2% more than March 2023, leading to multiple markets reaching four months of inventory, according to the latest Central Texas Housing Report released by Unlock MLS. The data indicates that homeowners have confidence in their ability to sell their homes for good value while buyers now have a larger selection of home options, helping to keep price growth flat.

Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®, noted that the increase in monthly inventory is a sign of a healthier and robust housing market.

“The current housing market is more favorable for first-time homebuyers, with an uptick in new listings for the lowest priced homes. More inventory means more options tailored to buyers’ specific needs and interests, allowing them more personalization and choice of location when looking for their new home. It’s great to see the stability of the current market in the first quarter of 2024.”

Kent Redding, 2024 Unlock MLS and ABoR president, provided further insight into current market conditions and the value of being represented by a licensed REALTOR®.

“In an era marked by economic resilience and favorable market conditions, aspiring homeowners are finding exciting opportunities to realize their dreams of homeownership. Through the use of Unlock MLS, the largest source of Central Texas housing market data, agents are able to provide the most accurate and timely data to assist clients during the transaction process.”

Read the full, original article here.