Austin Market Report-March 2020

As you know, I like to really study and dissect the statistics to hopefully provide insight to the local market that you may not be receiving otherwise.   Here are the most recent stats published by The Austin Board of Realtors earlier this morning.  On the surface, a lot of the March data looks like business as usual.  At first glance, I even said…well, this is March data(most March sales reflect contracts signed in February, and the shelter in place order did not go into effect until March 24^th)  But, one of the forward looking indicators, pending sales did reflect a shift in activity.  In fact, not only were pending sales down 19% from March 2019, but 2852 contracts signed was even fewer than less seasonally friendly and shorter month of February.  As I predicted last month, inventory remains low, so prices should have some stability in the short term.   Stay tuned for April…these statistics should be a more accurate reflection and impact of Covid-19.  Remember, we are all in this together.  If there is anything I can do, please don’t hesitate reaching out.  Stay Well!

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