Austin housing inventory continues to flirt with zero
Homes will continue to sell as soon as they hit the market, expert says
Austin’s white-hot residential real estate market doesn’t appear to be cooling down anytime soon – even with last week’s record-breaking cold weather.
Housing inventory for the Austin market dropped to an all-time low of 0.4 months in January, according to the Austin Board of Realtors. That’s down from 0.6 months in December and 0.9 months in November. Experts believe a healthy home market has an inventory closer to six months.
There were twice as many closings as active listings in January, according to O'Grady, which points to homes selling without ever being listed on MLS.