Economic headwinds holding back seasonal new-home sales in Austin market, expert says.

by Shonda Novak

April 22, 2024

This just in from Ben Caballero, a top-ranked real estate agent who tracks the new-home market in the Austin area and across Texas:

Although new-home sales in the Austin area were slightly higher in March over February, the spring homebuying season is “underperforming,” Caballero, founder and CEO of Dallas-based HomesUSA.com, says in his latest report.

The report uses Multiple Listing Service data from the Realtor associations in Texas’ four largest metros — Austin, Houston, North Texas (Dallas-Fort Worth), and San Antonio.

In the Austin region, the three-month moving average for new home sales in March totaled 850, up from 816 in February. New home sales also increased in the three other largest metros.

Despite the uptick in new home sales in the Austin region, Caballero says economic headwinds are holding back seasonally strong sales.

Note: The original story is located at https://www.statesman.com/story/business/real-estate/2024/04/22/new-home-sales-home-prices-housing-market-central-texas-austin-region/73412350007/

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Economic headwinds holding back seasonal new-home sales in Austin market, expert says.