Here’s a simplified look at what’s has happened in our market since COVID.
Want to buy a home? Search all homes for sale
We’ve had low inventory here in Austin since 2012, but when the pandemic hit in March this year, people were naturally hesitant to list, and the number of active homes fell further. Demand dropped evenly with supply and remained in step with it for a month or so, then shot up. In mid-May, more homes were going under contract than there were at that same time in May 2019—all while supply remained 15% to 20% lower.
Today, I’ll break down what’s been happening in our market using a simple graph, and discuss what it all means for buyers and sellers. To hear more about multiple offers, low interest rates, and more, watch this short video.