Spring 2020 Austin Market Update

Posted by Israel Gutierrez on Tuesday, April 21st, 2020 at 6:59pm.

COVID-19 & Austin, TX

 

Ok, now that the elephant in the room is out in the open. We're all dealing with COVID-19 and its repercussions. If you're reading this, hopefully you've been unscathed as many people have lost the jobs and much worse. It's definitely a time to appreciate the small things in life that may have been taken for granted in the past. 

Let's get to business shall we? When it comes to Austin Real Estate in March of 2020, the market was solid. Numbers continued on an upward trend for the most part, although we saw some signs of the impact of the ongoing pandemic and how it can and will affect the market. If you've been doing the research and really taking in what those in the business realm have to say about real estate and the economy, most signs point to a dip in our expected sales and volume on the short term, but a strong resurgence of the real estate market because of super-low inventory levels. What remains to be seen is what the unemployment rate, job loss and job transfers will do to the economy and real estate market in the long term. The image below shows the tail of the tape for March 2020, but I think April 2020 stats will really give us more of a gauge one what to expect later this year. All this said, I think we can all agree that where we call home is more important than ever after that events of the last couple months.

Hang in there everyone. It's been a bumpy ride, and we're still working through this as a society. Austin House Company is an essential business, and we're taking all the necessary steps to continue to serve our wonderful clients and customers as best we can.  If you have questions about how we're operating during the COVID-19 pandemic, or just need some simple guidance, don't hesitate to reach out to us. You can call our office at (512) 412-3564 or message us on FacebookInstagram, or Twitter. Summer 2020 here we come! 

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