Happy Thursday!

This past week it seems like has picked back up a bit when it comes to market activity. Despite a slight decline in housing activity last week due to the week Loong Independence Day holiday, we're now seeing an uptick in traffic as we approach the school year.

We love when Independence Title gives us access to their incredible Stats Module, breaking down data by zip code, which we share below. More Good news: overall trends indicate positive price appreciation year over a year could be just around the corner maybe even by the end of the Summer as we dive into the latest REDFIN data.

We've also got reports on the Short Term Rental Market and an CoStar Economy report about the FED's "Soft Landing". Get ready for another insightful market update!

As always, we are here to navigate the complexities of the market and greatly appreciate your referrals. We hope you find this update informative and feel free to share it with others!

This Weeks New Listings

Market Update

We'll start here with the latest REDFIN data, home prices in the US just caught up to where prices were this time last year, as you can see in this chart...

And we know, this is national data, not local. We also know Austin took off fast and came down hard, as did Vegas, San Fran, and Phoenix those were the hardest-hit markets when the FED started raising rates.

Austin Market is edging back up...

If you take a good look at this graph and still think the Market is collapsing then I don't know what you are looking at...

Yes, Year over Year Austin is still down by about -7% but looking at this trend and comparing it to when the price declines started happening last year, in June It would be tough to imagine Austin not being back into positive price appreciation territory year over year by August.

We're already about $35K above last August's median prices and we are seeing an upwards trajectory, we might even be in the positive range when the July numbers are released.

If you’re a buyer

This price dip is still a big opportunity in 2023, If you take advantage you'll look back with a smile and be glad you pulled the trigger. Let's set the record straight – prices aren't plummeting as the media might make it seem. Yes, some motivated sellers are adjusting prices to make a sale, but guess what, Not all sellers are feeling the pressure and offering discounts. But here's the exciting part for Buyers– you now have an abundance of options like never before, stretching back over a decade. If you're ready to buy, trust me, you'll be thanking yourself in the years to come. Don't miss out on the opportunity high-interest rates created for the Austin Market!

If you’re a seller

Listen up, The market is a tale of two halves: sellers who know the game and price their homes competitively are sealing offers and closing their deals, while those who aren't playing along are sitting on the sidelines. If you're looking to sell this year, It's totally doable, but there's a golden rule you must follow – price it appropriately. As we enter the summer and fall, it's crucial to consider normal seasonality and be ready to adjust your price. We don't want you "chasing the market down" like many sellers do in Q3 and Q4. You want to avoid that trap and make your selling experience as successful as possible!

Get the June Zip Code Stats Module

New Listing Activity

National Market Insights

Is the Airbnb Collapse Actually Happening? Here's What We Know

When a viral tweet showed that Airbnb revenue was falling across top markets, investors started getting nervous. But was the data real? Or is everything is just fine? Are we entering an Airbnb apocalypse or just seeing a heated market, well that depends... Read the learn the full story.

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Slowing Job Growth.. A Path to a Soft Landing?

Federal Reserve's soft landing plan is showing promising signs. The economy is bravely weathering the most aggressive tightening measures in history. Projections and analysts suggest a potential delay or even avoidance of the anticipated recession.

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Mike & Steve Cossette 

(512) 299 5904


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