The Midyear Central Texas Housing Report from ABoR states 4,369 homes sold across the five-county Austin Metropolitan Statistical area, representing an 8.6% increase over last June.
Another figure of note, sales dollar volume for the Greater Austin MSA jumped 55.7% from last June to $2.62 billion.
Those percentages are relatively similar in the Round Rock-Pflugerville-Hutto market, where 690 homes sold in June represented a 7.3% increase year over year, and the area's sales dollar volume jumped a whopping 62.4% over last year to more than $344 million.
“In June, and in the first six months of the year, we saw a confirmation that Austin’s housing market is one of the strongest in the nation,” 2020 ABoR President Susan Horton said. “Our market has established its own new normal, as median prices climb while inventory remains low. With the unprecedented growth our region continues to experience, we can expect these trends to continue.”
ABoR's report states Dr. Jessica Lautz, vice president for demographics and behavioral insights for the National Association of Realtors, said buyers have shifted priorities since the onset of the COVID-19 pandemic. Those buying trends have added fuel to the housing market boom across the Austin-Round Rock MSA, the report states.
"Reliable broadband access, at least one home office and flexible working and living spaces are top priorities," Lautz said. "Remote work, along with incredibly low interest rates, has allowed buyers to purchase homes in suburban areas that provides more square feet, outdoor space, and increased buying power than in urban core areas.”