Central Texas Home Buyers Enjoy The Largest Inventory Since 2011

If you are looking to buy a new home in central Texas, now is the perfect time!

Central Texas has Plenty of Homes on the Market

We are now in a buyer’s market in central Texas with more than 140,000 houses on the market. The inventory has not been this high since 2011.

Factors Contributing to the Large Number of Homes for Sale in Central Texas

We all remember the rush to buy homes during the covid outbreak. Americans looking to move out of congested areas flooded the housing market, which led to a shortage of available homes. We are now at the opposite end of the spectrum. Below are some of the reasons the housing market is now at a surplus:

Interest Rates- Interest rates are nowhere near the lows we saw pre-pandemic, but home buyers have accepted the reality of higher rates and are looking to buy and sell.

Competition- More houses on the market means more competition for prospective buyers. Home sellers are making home improvements to stand out from the rest of the pack. Buyers do not want to spend time or money making improvements to a new home. Home sellers need to weigh the cost of improvements with the asking price of the house. Too many improvements reduce the profit made from the sale.

Pricing- Pricing is key. Many want to price high in the hopes that a buyer will be willing to shell out the money, but the sheer number of homes on the market means buyers can be choosy. Often times, a lower price will move buyers to seal the deal.