Is Austin inventory rising or falling?

Active listings in Austin are falling, with 5% fewer homes on the market compared to a year ago. This means there are fewer choices for people looking to buy a home right now. There are 12,456 homes for sale as of the latest data.This decrease in available homes comes even though the number of new homes being listed has stayed about the same. In the most recent month, 3,926 new listings appeared, which is almost identical to the number a year ago.While there are fewer active listings, homes are also staying on the market longer. The typical home is spending 63 days on the market, which is about 8.7% longer than last year. This suggests that even with fewer choices, buyers are taking their time.Prices have also come down. The median listing price is $473,500, which is nearly 10% lower than it was a year ago. About 27.6% of homes have also had their prices reduced.If you're looking to buy, fewer homes for sale might make it a bit harder to find exactly what you want, but homes staying on the market longer and price reductions could give you more room to negotiate.