Inventory levels are back to pre-2020 levels and mortgage rates are on the hike from around 7% currently (20 yr high). This dynamic has led to declines (YOY & MOM) in valuations and increases in days on market. On the bright side, the number of closed sales has actually increased (MOM), this could be evidence of a more stable trend in Austin property valuations going forward. We will have to see how the Fall and Winter months prospective buyers perform.
