In June, there were 2.7 percent fewer single-family home sales in the Austin-Round Rock MSA than there were the same time last year, according to data released by the Austin Board of Realtors.
But despite fewer closings, the total dollar value of all single-family home sales last month still increased 1.4 percent over the same month last year, and the median price was up by 4.9 percent.
ABoR President Steve Crorey downplayed the idea that the Austin housing market has slowed significantly, instead pointing out in a press release that “[c]onsecutive years of record-breaking sales activity have set the bar incredibly high.”
June housing inventory declined by 0.1 months to 2.9 months’ worth of inventory. Six months of inventory represents a balanced housing market.