This is the second straight month of massive declines for the real estate market in Northwest Austin, as defined by the six ZIP codes to which Community Impact Newspaper distributes the Northwest Austin edition. In April, the area experienced a 46.9% decline in year-over-year sales, ABoR data shows.
The ongoing coronavirus pandemic, local real estate leaders said, is contributing to compounding factors that have affected several sections of the real estate market, such as shrinking housing inventory and climbing home prices.
“We're seeing home sales drop because we simply don't have enough inventory on the market," 2020 ABoR President Romeo Manzanilla said in a June 18 news release. "We recognize there’s still an element of discomfort with listing one’s home during the pandemic, and Austin realtors are taking every precaution to ensure safe and efficient practices across the market."
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