The latest numbers show the Austin housing market is moving at a slower, steadier pace. In August, sales of resale homes were down about 10% compared to last year, and new construction sales were up by 14%, but the overall average sold price has remained neutral. Homes are also taking a little longer to sell this year, with the average sitting at about 81 days on market.
Adding another twist to the market, the Federal Reserve announced a .25% interest rate cut on Wednesday, September 17th (click here for full article) — a welcoming relief , especially for buyers in Austin who've been feeling squeezed by high borrowing costs.
While it won’t immediately send mortgage rates plummeting, it helps improve affordability and could reignite demand, particularly among first-time buyers. Sellers should be aware: more buyers may re-enter the market, but inventory remains a factor, so pricing and condition will still make all the difference.
The big picture? Austin’s market has cooled compared to the past few years, but well-presented and well-priced homes are still moving — and the Fed’s latest rate cut could bring a little extra momentum back into the mix.
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