The Austin housing market has been faced with a lack of housing options for the major influx of new Austinites. However, May showed signs of improvement.
Data from May shows the number of active listings increased by 4 percent compared to the same time in 2013. This is the first such increase in housing inventory in the last three years.
"The Austin market has been in need of housing stock for some time now, so it's encouraging to see an increase in listings over last year. With sales volumes remaining strong, the market is still competitive, but the options for buyers are beginning to increase," said Bill Evans, president of theAustin Board of Realtors, in a news release.
Homes are now spending 40 days on the market, which is four days less than last year's rate.
