A new Austin Board of Realtors report reveals that home prices in Travis County have fallen to their lowest level in two years. Kent Redding, board president elect, joins FOX 7 Austin's John Krinjak to discuss.
A new report from the Austin Board of Realtors reveals that home prices here inKent Redding, the 2023 president-elect for the Austin Board of Realtors, joins FOX 7 Austin'sSo talk to us about this report. What did it find when it comes to median home prices compared to previous years?Sure our median home price in January adjusted to 450,000 approximately. And that's a 6% adjustment since December.
You know, anecdotally, I don't think the prices are going to fall dramatically. I think they're going to level off at about this pace that we're having in February and March, possibly for the next 4 to 5 months. It'll just be more of a normal market. And then I believe probably the fall this is again, just me speaking here. We'll get back to some normal Austin appreciation, which can be, you know, 3 to 4% annually. I expect that to happen in the fall.
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