{"id":22838,"date":"2025-10-27T11:51:09","date_gmt":"2025-10-27T11:51:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/22838\/"},"modified":"2025-10-27T11:51:09","modified_gmt":"2025-10-27T11:51:09","slug":"americas-strongest-buyers-market-is-in-texas","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/22838\/","title":{"rendered":"America\u2019s Strongest Buyer\u2019s Market Is in Texas"},"content":{"rendered":"

After a recent boom in construction and a following explosion in inventory, Austin, Texas,<\/a> is now the strongest buyer\u2019s market in the entire country, according to a new report by Redfin.<\/p>\n

Nationwide, there are now 37 percent more sellers than buyers\u2014a near-record gap. But in Austin<\/a>, there were an estimated 130 percent more sellers than buyers in September, Redfin found\u2014the biggest imbalance in America\u2014up from 81 percent a year earlier.<\/p>\n

\u201cNow that there are more homes for sale than buyers in the market, buyers have the upperhand,\u201d Daryl Fairweather, Redfin chief economist, told Newsweek. \u201cThey\u2019re negotiating on price, securing concessions and seeing real gains in affordability.\u201d<\/p>\n

How Austin Went From Boom To Bust<\/p>\n

The Texas<\/a> capital is one of the few markets in the country where home prices are now below their pandemic peaks, after the city experienced a steep correction starting from the fall of 2022. According to Redfin data, the median sale price of a home in the city was $508,000 in September, down 9.29 percent year-over-year and much below the pandemic peak of $665,000 reached in May 2022.<\/p>\n

This is a massive change from the rapid price increases that Austin reported between 2020 and 2022, when demand surged in response to the rise of remote work and domestic migration to the vibrant Southern city.<\/p>\n

\"\"<\/p>\n

\u201cAustin was the poster child for pandemic boomtowns, with home prices soaring nearly 60 percent in just two years,\u201d Fairweather said. \u201cBuilders saw that strong demand and rushed in to build both multifamily and single family homes.\u201d<\/p>\n

\u201cIn the first years of the pandemic, sellers had their pick of offers,\u201d Fairweather said. \u201cBut when mortgage rates spiked in 2023, demand cooled and prices fell\u2014just as a wave of new construction hit the market.”<\/p>\n

In September, according to data from the Federal Reserve of St. Louis, there were over 11,000 homes for sale in the Austin market\u2014up from the lows of 3,000-1,000 between 2021 and 2022.<\/p>\n

This rise in inventory is due in part to the construction boom that followed the pandemic surge in demand, and in part to the fact that buyers have withdrawn from the market in response to higher prices and borrowing costs\u2014a phenomenon that has been reported all across the country this year.<\/p>\n

But while in other parts of the country\u2014especially the Northeast\u2014a chronic shortage of homes has propped prices up, in Austin new construction projects have prevented this from happening, and prices have been falling.<\/a><\/p>\n

Austin is \u201ca strong example of how a city can prevent home prices from becoming excessively unaffordable by saying yes to more housing<\/a> instead of stopping new supply from getting built,\u201d Fairweather said.<\/p>\n

What Comes Next for the Texas Capital<\/p>\n

Fairweather told Newsweek that she expects prices in Austin to remain soft for a while. \u201cBut with new construction slowing,\u201d she said, \u201cthe pendulum of power could swing back to sellers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"After a recent boom in construction and a following explosion in inventory, Austin, Texas, is now the strongest…\n","protected":false},"author":2,"featured_media":22839,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[132,134,133,3222,6358,27,10543],"class_list":["post-22838","post","type-post","status-publish","format-standard","has-post-thumbnail","category-austin","tag-austin","tag-austin-headlines","tag-austin-news","tag-housing","tag-housing-market","tag-texas","tag-u-s-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/22838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=22838"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/22838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/22839"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=22838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=22838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=22838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}