Where is the Austin Real Estate Market Headed in 2023

Where is the Austin real estate market headed in 2023? The Austin real estate market saw some wild swings in 2022. After a hot start to home prices rising inflation and interest rates saw a decrease in demand and home prices.

While the year finished positive overall with 10% appreciation in home prices, many are left to wonder what it means for 2023.

First, anyone predicting a crash in the real estate market doesn’t have their fact straight. The 2006 housing crash was caused by two important facts. One a lack of underwriting guidelines when it came to mortgages and second a onslaught of foreclosures brought on by poor underwriting but also due to many homeowners being underwater in their homes.
Neither of those factors are in play this time around.

We are going to see interest rate remain higher than they have in years. This will mean prices will stay relatively flat and the number of homes on the market will continue to grow.

There will be deals to be had in the 2023 real estate market but you are not going to have to slash your home price if you are looking to sell.

Talking to an expert in your local market will give you the best insights to answer your real estate questions and concern. If you are considering buying or selling in 2023 reach out and we can help you achieve your real estate goals.
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Troy links people with their real estate goals to help build wealth, dreams and memories.

He has spent nearly two decades in the real estate industry, first as a Sr. Mortgage Loan Officer at Bank of America and the last 8 years as the Broker of Reserve Realty. He loves learning about his clients and friends’ situations and understanding how best to assist them in reaching their goals. The most rewarding part of his job is minimizing the stress that is inevitable when someone is making the decision to buy or sell a home, and then guiding them through the process.

Troy uses his insights about the real estate market and mortgage industry, his connections and knowledge of the Austin area and his resources and experience to exceed his client's expectation of professional service, knowledge and communication when buying or selling a home.
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