Homes turning over more slowly
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2.2% of Austin homes changed hands in the first nine months of this year, down from 4.2% five years ago, according to a Redfin analysis.
Why it matters: It's the latest sign of how Austin real estate has cooled since the housing market go-go days during the throes of the pandemic.
By the numbers: About 2.8% of U.S. homes changed hands through September — the lowest turnover rate in at least 30 years.
Zoom in: Austin saw sales of 21.7 homes per 1,000 homes the first nine months of this year — down from 25.9 during same period in 2024.
Zoom out: Nationally, homes are selling "at historically low rates" as costs stay high, homeowners cling to cheaper mortgages, and economic uncertainty makes shoppers hesitate, per Redfin.
What they're saying: "America's housing market is defined right now by caution," said Chen Zhao, Redfin's head of economics research, in the report.
Yes, but: Pending sales in greater Austin in October increased 5.8%, year-over-year (to 2,463 sales), leading local industry experts to suggest the market here is stabilizing.
- "Pricing has been steady for months, inventory is in balance and the Federal Reserve's recent interest rate cuts have boosted buyer confidence, as shown in increased pending sales activity," Vaike O'Grady, research advisor at Unlock MLS, a data site operated by the Austin Board of Realtors, said in a statement.
- "Homes that are priced right and well-presented are still selling quickly and close to asking price," O'Grady said. "The consistency we're seeing is a healthy sign for what we can anticipate in 2026, and continued long-term growth."