“What I’m telling my clients is, if you bought during Covid, you probably paid too much. “Yes, we are going to see prices come down, but that’s in some areas that went up astronomically during Covid,” said Kathryn Scarborough, an agent with Engel and Volkers. Viewed from a wider lens, current activity and numbers are largely what one would have expected them to look like by 2023, before the pandemic. One reason the numbers look so bad at first - median sale price is down 13 percent, closed sales are down 14 percent, total dollar volume is down 24 percent - is because they were so colossally out of whack in 20. “They are busy, and the market is moving at a much healthier pace than it has in years,” Ashley Jackson, Austin Board of Realtors president, said in a recent news release detailing some disappointing market statistics for March. The season wraps up around Memorial Day, at which point school lets out, summer travel picks up, and temperatures make moving seem like an exercise in self-immolation.Īgents and the industry are quick to say that conditions this year are not as bad as people (the media) are making them seem. Each year, as February comes to a close, Texans start to buy houses in greater numbers.
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