Austin home sales are down, inventory up in 2025 so far
AUSTIN (KXAN) – Home sales in the Austin metropolitan area are down 10% so far in 2025 compared to the first few months of 2024, according to the Austin Board of Realtors.
After the Great Recession, home values around Austin appreciated at an average rate of around 4.5% annually until the pandemic, when home values spiked. While values still reflect the COVID-19 era, they have been steadily cooling down.
DATA: Austin's housing market: How quickly are homes selling, and for how much?
'Homeowners during COVID accrued home equity gains above that which we would have otherwise expected,' said Claire Knapp, housing economist at ABOR. 'We're also seeing perhaps a little bit of reluctance among sellers to meaningfully reduce their home prices, and I think that has contributed to some extent to that sluggishness in sales.'
In part, this has led to higher levels of inventory – a boon for buyers, providing them with more options.
'Inventory is really beneficial to [buyers],' Knapp said. 'They're able to really hone in on what they want.'
'It's a very different market for buyers than it was even a few years ago during the pandemic, when buyers really didn't have many options available to them, and we were just watching homes fly off the shelves,' she continued.
Even though prices are declining, Knapp said more needs to happen. While the median sales of a home in the metropolitan statistical area dropped 12% from 2022 to 2024, that value was 40% higher in 2024 than it was in 2019.
Additionally, buyers are restricted due to higher mortgage rates, contributing to the sluggish market, Knapp said.
'We've seen mortgage rates have remained high,' Knapp said. '[They're] hovering in that high 6% range and even dipping into that 7% range.'
'It's really dependent upon sellers to be willing to set reasonable expectations in terms of pricing, particularly given higher mortgage rates and the higher level of inventory available to buyers in today's market,' she continued.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
Swiss deflation fuels talks of negative interest rates: Is SNB ready?
Remember negative interest rates? Back in early 2020, as the world grappled with the COVID-19 pandemic, central banks across advanced economies rushed to slash interest rates, offering cheaper borrowing to cushion the economic blow alongside unprecedented fiscal support. In many countries, rates tumbled to near or even below zero — an extraordinary policy shift reflecting the urgency of avoiding a prolonged recession. Fast forward five years, and no major economy currently operates with rates at or below zero. But Switzerland could soon change that. Switzerland could soon become the first advanced economy to re-enter the era of negative interest rates. A confluence of weakening price pressures and a subdued economic outlook has sparked growing expectations that the Swiss National Bank (SNB) will resume ultra-loose monetary policy, potentially cutting interest rates below zero in the coming months. Last week, the Swiss Federal Statistical Office reported that consumer prices fell by 0.1% in May 2025 compared to a year earlier, marking the first deflationary print since March 2021. The decline was broad-based, with notable year-on-year contractions in transport costs (-3.7%), food and non-alcoholic beverages (-0.3%), healthcare (-0.2%), and household goods and services (-2.6%). While a modest bout of deflation is not in itself alarming, it underscores the fragility of domestic demand and presents a challenge for the SNB's inflation target. The central bank defines price stability as annual inflation between 0% and 2%. "Swiss inflation could remain close to 0%, which represents the lower end of the SNB's price stability range," said Niklas Garnadt, economist at Goldman Sachs. The expert identified declining inflation expectations, falling energy prices, and potential trade frictions as downside pressures on the price outlook going forward. The SNB, which currently holds its policy rate at 0.25%, meets on 19 June, and economists are expecting another rate cut of 25 basis points. According to Goldman Sachs' base case, the SNB will lower its policy rate to -0.25% by September, in two successive cuts. Yet, there is a 40% chance, the bank noted, that policymakers may opt for more aggressive easing, with two 50 basis point cuts taking the rate back to -0.75% — the lowest in its history. Although the SNB also has foreign exchange operations at its disposal, economists expect interest rate cuts to take precedence in the near term. There are some reasons for this preference, according to Goldman Sachs. "The SNB has prior experience managing the impact of negative rates," Garnadt said. Moreover, domestic inflation is more responsive to interest rates than currency movements. And finally, Switzerland remains on the US Treasury's watchlist for currency manipulation, potentially constraining foreign-exchange intervention activity. That said, foreign exchange interventions have not been ruled out entirely. During the post-2008 low-inflation years, the SNB frequently bought foreign currency to stem franc appreciation. The SNB is again navigating familiar territory, balancing the need to support inflation against the risks of overreliance on unconventional measures. While Switzerland's economic fundamentals remain relatively strong, the renewed threat of deflation could push the central bank to breach interest-rate lower bounds again. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Jim Cramer on Home Depot (HD): 'I Think We're in Good Shape'
We recently published a list of . In this article, we are going to take a look at where The Home Depot, Inc. (NYSE:HD) stands against other stocks that Jim Cramer discusses. A caller asked how Cramer thinks The Home Depot, Inc. (NYSE:HD) would perform in the long term. He replied: 'Oh man, I was making calls on Home Depot today because it's starting to roll, and then wouldn't you know it, it pulled back right at the end. I think we're in good shape. I think when rates just stay stable, we'll be fine. I think that the gardening season's coming along fine, but let me just say, people just look at housing starts and they say, let's sell Home Depot. Don't be constrained by that. I think they're going to have a great year. Let's think seven years, not seven days. Thank you, Larry Fink for that. I love that. It was in the FT yesterday.' Home Depot (NYSE:HD) is a retailer specializing in home improvement products, including building materials, home décor, and garden supplies. The company provides installation services for home projects and rents out tools and equipment. Earlier in May, Cramer said: 'Now, not that long ago, we dropped in on a monster Home Depot store management meeting in Vegas where we heard about some great ideas for spring gardening season, which by the way, kicks into overdrive this weekend. Unfortunately, these big weeks for lawn and garden have been overshadowed by stubbornly high interest rates and no rate cuts from the Fed, not to mention tariff worries. Now I've watched this stock since it came public, and there are plenty of times that Home Depot doesn't actually march to the tune of interest rates, but instead is levered to repair and renovation. An insurance broker discussing policy options with a homeowner. As so many people are stuck in their homes, I'm willing to trade up because that would force them to give up that low mortgage rate that they may have gotten during the COVID period. Now we own the despot for the Charitable Trust, and while I'm not expecting a blowout by any means, I have to tell you I like it long term, and it's down 2% for the year, well, off its highs… Home Depot stock is a great one to own because, like Walmart, these guys have the scale to cope with the tariffs that are going to be put on so many foreign-made goods that they sell at Home Depot. The little guys we know, they don't have that kind of flexibility.' Overall, HD ranks 10th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of HD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
2 hours ago
- Yahoo
Austin-based business says it will offer Tesla robotaxi rentals in 2026
AUSTIN (KXAN) — Just days from now, Tesla reportedly plans to deploy its first commercial robotaxi service on Austin's public streets. Tesla CEO Elon Musk unveiled plans to launch them in June as part of its new autonomous vehicle ride hailing service. On Tuesday, social media posts circulated online of one of those vehicles driving on South Congress Avenue. Tesla robotaxi service reportedly launching next week in Austin Austin-based RV rental agency, The Outdoorsy Group, said it plans to incorporate this new technology in the future. 'We see outdoorsy as a platform for all forms of mobility,' said Co-Founder and CEO Jeff Cavins. 'Motorcycles, trucks, cars, camper vans, airstreams. Of course, the autonomous vehicle is important to us because it enables a whole level of autonomy.' Cavins said he jumped at the idea when it was first announced. 'We called the fleet team, whom we knew really well at Tesla, and we placed an order for 100 Teslas.' Jeff Cavins, Outdoorsy Group Co-Founder & CEO Cavins said along with Outdoorsy, they built their own insurance company called Roamly Insurance Group. 'I think the insurance component is very important,' Cavins said. 'You want to make sure, if you're a city or a municipality or city council or a mayor's office, that the insurance company that's backing these fleets of robotaxis is an insurance company you can rely on.' Still, some questions remain unanswered. In a letter sent to Tesla in May, the National Highway Traffic Safety Administration asked the company to explain how it plans to operate safely. Questions focused on things like: Crash reporting Complying with traffic safey laws Automated responses to emergencies NHTSA asked how the robotaxis will safely operate in low-visibility, like sun glare, fog, rain or snow. Those conditions are tied to previous accidents involving the company's driver-assistance software. KXAN reached out to see if NHTSA heard back. The agency told us on Friday that its investigation remains open and that Tesla's response must be submitted by June 19. NHTSA said any updates will be posted in the investigation file online. Attorney Donald Slavik represents people across the country who were injured or killed by Tesla autopilot and full self-driving. He shared multiple stories with KXAN about some of the cases he's taken. 'A family in Texas where a gentleman, father and husband was putting trash cans out on the street in the neighborhood,' Slavik said. 'Vehicle coming by with the driver using autopilot so that he could talk on his phone or work on his phone. Hit the man and very, very seriously injured [him]. He survived for a year and a half and died.' Slavik said unlike states with established autonomous vehicle oversight, cities in Texas cannot regulate AV's. The Texas Legislature passed a bill back in 2017 that prohibited that. 'There's nothing that prevents someone from putting these vehicles out in Texas. There's no regulation that says you have to have a human person behind the wheel with responsibility for operating the vehicle.' Attorney Donald Slavik, Slavik Law Firm Slavik worries about how a robotaxi would respond in severe weather conditions as well. 'Is it going to pull over safely and stop, or is it going to try to drive through it?' Slavik wondered. KXAN has repeatedly reached out to Tesla about its robotaxi plans. We'll update this story if we get a response. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
